Compare over 20 mortgage insurance policies in as little as 5 minutes.
With PolicyHub you get to compare over 20 mortgage insurance policy providers in as little as 5 minutes. Save time. Save big. Get started now.
Compare over 20 top providers in Cottage Grove, MN
Your one-stop-shop to compare all the rates, all at once.
With PolicyHub you get:
Over 20 policy provider comparison.
Explore multiple Cottage Grove, MN policies from all the leading insurers and choose the one that fits your needs.
Locked in rate discount and exclusive deals.
Benefit from exclusive deals offered only to residents of your state, and lock in huge rate discounts.
Customized policies just for you.
Our team tailors policies to your unique needs, meaning optimal coverage at competitive rates.
"I was totally lost trying to find the right mortgage insurance until I found PolicyHub. I was able to work with a licensed agent to compare all my options all at one. I got the perfect plan for me at a cheaper rate than I expected."
Barbara Winters
Policy Holder
ATTN: 2024 rates just released!
Get the latest mortgage insurance rates for 2024 and lock in your policy today! Get started comparing policies today.
Get the perfect plan with the cheapest rates in 3 easy steps.
Done in 3 easy steps
Step 1
Tell us about yourself.
Finding the perfect mortgage insurance policy starts with answering a few questions to help us serve you better.
Step 2
Compare rates & plans with a pro.
Discuss your options with a licensed insurance agent. Compare different plans to find the best policy with the cheapest rates.
Step 3
Lock in cheap rates.
Secure the lowest rates and lock in the perfect mortgage insurance policy for you and your family.
"I lost hope trying to find a mortgage insurance policy that wasn't insanely expensive. Thankfully PolicyHub helped me find the perfect policy that is affordable with high coverage. Thank you!"
Bill Barton
Policy Holder
PolicyHub is the smartest way to protect the people that matter most.
Safeguard Your Family
Mortgage insurance means safeguarding your family in a worst-case scenario. Don't risk it.
Gain Peace of Mind
Far too many Americans are financially blindsided by the death of a loved one. But not your family.
Protect Your Business
Protect your business by ensuring a smooth transition of ownership with the right mortgage insurance.
Beat Estate Taxes
Inheritance or estate taxes is burdensome for your heirs. A mortgage insurance policy can help.
Invest in Your Future
For less than $1 per day, you can make a huge contribution to your family's financial safety.
Build Your Legacy
Through a mortgage insurance policy, you can leave behind a legacy for your loved ones.
Get started in less than 5 minutes.
With PolicyHub getting started is easy. Compare all the rates from all the providers. Get started in under 5 minutes.
All your mortgage insurance needs in one place.
Private Mortgage Insurance (PMI)
PMI is your solution for buying a home with less than 20% down. It protects your lender, but also enables you to own a home sooner with less upfront cash. It's added seamlessly to your monthly mortgage payments.
FHA Mortgage Insurance Premium (MIP)
FHA's MIP is ideal for those with less-than-perfect credit scores. With an upfront premium and a smaller annual premium, MIP makes homeownership more attainable for a broad range of buyers.
USDA Mortgage Insurance
USDA Mortgage Insurance is tailored for rural homebuyers. With a manageable upfront guarantee fee and a low annual fee, it's a cost-effective way to secure your countryside dream home.
VA Funding Fee
The VA Funding Fee, unique to VA home loans, is a one-time fee that helps sustain the VA loan program for future generations of military homeowners. Depending on your service history, you may even be exempt.
"Highly HIGHLY recommend PolicyHub if you need mortage insurance. They saved me sooo much time and money on my policy, it's nuts. Comparing all the providers at once is a game changer."
Chris Stephens
Policy Holder
Introducing PolicyHub Price Match Guarantee
Our priority is to save you money while getting you the right coverage. If you find a lower rate for a similar policy anywhere else, we'll match it! With PolicyHub, you can rest assured knowing you're getting the best price.
Save time and get the best policy with the cheapest rates. Guaranteed.
![]() |
Option 1 | Option 2 | ||
---|---|---|---|---|
100% Digital | ||||
Licensed Agents | ||||
Expert Support | ||||
Get Started in 5 Minutes | ||||
Decades of Experience | ||||
Compare 20+ Providers | ||||
Zero Hidden Costs | ||||
Top Insurance Providers |
"I knew I needed mortgage insurance but I didn't know where to go. I talked with a few other companies but the cost was outrageous. I found PolicyHub and found the perfect plan for me at an affordable cost."
Wendy Smith
Policy Holder
Frequent Questions...
In Cottage Grove, MN, there are three different types of mortgage insurance: Private Mortgage Insurance (PMI), FHA mortgage insurance, and U.S. Department of Agriculture (USDA) mortgage insurance. PMI protects the lender in case of default and is typically required if you don't make a larger down payment. FHA mortgage insurance is administered by the Federal Housing Administration and is a government insurance program designed to help borrowers with lower credit scores. USDA mortgage insurance is a set of programs designed to help low to moderate-income rural home buyers with financing and is managed by the U.
Does the cost of a Cottage Grove mortgage insurance policy depend on the size of my down payment?
Yes, the cost of mortgage insurance in Cottage Grove, MN can depend on the size of your down payment. Generally speaking, the more you are able to pay upfront when purchasing a home, the less you may have to pay for mortgage insurance premiums. For example, lenders may require mortgage insurance if the borrower puts less than 20% down on a home purchase and the rate charged for mortgage insurance may be lower if the borrower puts more than 20% down.
Do I need a private mortgage insurance policy Cottage Grove?
Whether or not you need private mortgage insurance in Cottage Grove, MN will depend on several factors, such as the amount of your down payment, the type of loan you have, and the lender's requirements. Generally, if you're putting less than 20% down, most lenders will require private mortgage insurance. However, if you can meet the 80/20 rules, some lenders will consider exempting you from needing private mortgage insurance.
How does FHA mortgage insurance near Cottage Grove work?
In Cottage Grove, MN, accessing an FHA mortgage can help those that are looking for an easier, more secure process when buying a home. FHA mortgage insurance is a type of government-backed mortgage loan insurance, which helps FHA-approved lenders offer more lenient loan terms. When you take out an FHA mortgage, you pay a one-time mortgage insurance premium (MIP) and annual premiums. These premiums are used to protect the lender in the case of borrower default.
Do Cottage Grove mortgage insurance companies offer USDA insurance?
USDA mortgage insurance in Cottage Grove, MN helps protect lenders from a loss if a homeowner defaults on the loan. This type of insurance is available to low and moderate-income households to help make homeownership more affordable in rural areas. Unlike many traditional loans, the USDA mortgage insurance requires no down payment or private mortgage insurance. It offers a competitive, 30-year fixed-rate and provides rural homebuyers with flexible repayment options. Another benefit is the home must meet certain location guidelines to qualify, ensuring your home is in a rural, or suburban, location.
The VA funding fee for home purchasers in Cottage Grove, MN is based on a variety of factors, such as the loan's purpose, the loan term, the type of loan, and the borrower's use of their VA entitlement. Generally, the fee is determined by multiplying the loan amount by a percentage which ranges from 0.50% to 3.6%. The fee is greater for VA loans that are used to purchase a home where the borrower has no other VA loan entitlement (or "first-use"), compared to loans used to refinance a home or acquire a second home.
What can I do to lower the cost of my mortgage insurance in Cottage Grove?
To help lower the cost of your mortgage insurance in Cottage Grove, MN, you may want to consider refinancing. Refinancing your mortgage may lower your interest rate and the resulting monthly payment, which can lead to savings on your mortgage insurance. However, it is important to consider all fees associated with refinancing, as well as the possibility of resetting your loan term, to make sure this would be the most beneficial option for you. Additionally, you should also think about the possibility of making a significant down payment to reduce the amount of insurance required.
What process do I need to follow to cancel my Cottage Grove mortgage insurance policy?
To cancel your mortgage insurance in Cottage Grove, MN, you will need to have your loan servicer submit an Automated Underwriting System (AUS) finding of “Accept” or “Refer/Eligible”, in addition to a Homeowner's Prior Insurance Certificate showing the date of termination and that no other mortgage insurer is providing insurance on your mortgage loan. You should also provide proof that the loan is current and that you have made at least 12 monthly payments.
Is there an online calculator for mortgage insurance from a Cottage Grove mortgage insurance company?
Yes, there is an online calculator for mortgage insurance in Cottage Grove, MN. At Cottage Grove Mortgage Insurance, we offer an online calculator that can help you determine the mortgage insurance needed for your particular situation. Our calculator takes into account factors like interest rate, duration of loan, and the cost of the home, to give you an accurate mortgage insurance rate based on your individual needs and qualifications. Additionally, our online calculator provides options for the best coverage types that fit your requirements, allowing you to customize your mortgage insurance to meet your needs.
What happens if I don't use mortgage insurance companies in Cottage Grove?
If you don't purchase mortgage insurance in Cottage Grove, MN, you may be taking a risk if you have a lower down payment. If you default on your mortgage, you could be responsible for any losses that the lender experiences. Without mortgage insurance, it can be difficult to secure a loan and may require you to have a higher down payment. Ultimately, mortgage insurance is there to protect you and your lender, so it is highly recommended that you purchase it when you take out a mortgage to ensure a safe investment.
Compare Life Insurance Policies
Get started today and compare over 37 life insurance providers in as little as 15 minutes.
© 2024 PolicyHub - all rights reserved