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Compare over 20 top providers in Dunwoody, GA
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"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
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"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.
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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
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"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...
Mortgage insurance is important in Dunwoody, Georgia because it helps to protect homeowners from defaulting on their mortgage. In the event that a borrower can no longer make their mortgage payments, mortgage insurance will help cover the remaining balance of the loan so that the homeowner is not saddled with additional expenses. Additionally, mortgage insurance may provide some protection for the lender in case the borrower passes away. As such, mortgage insurance is an important safety net for homeowners in the Dunwoody area to ensure that their financial investments remain secure.
How does a larger down payment affect my Dunwoody mortgage insurance policy cost?
Having a larger down payment in Dunwoody, GA can significantly reduce your mortgage insurance cost. Generally, mortgage insurance cost is calculated in relation to the size of your down payment, and having a larger down payment can lead to lower monthly payments. Typically, lenders require you to pay a certain down payment amount for them to waive mortgage insurance costs. For example, if your home's purchase price is $190,000, a 3.5% down payment would require mortgage insurance and a 20% down payment would waive it.
Do I need a private mortgage insurance policy Dunwoody?
Whether you need private mortgage insurance (PMI) in Dunwoody, GA will depend on the type of loan you take out, your down payment amount, and other factors. In general, if you are taking out a conventional loan and have less than 20% for a down payment, then you will likely need to pay private mortgage insurance. However, if you are taking out an FHA loan, then there are limits on how much PMI you need to pay, depending on the amount of your down payment.
How does FHA mortgage insurance near Dunwoody work?
FHA mortgage insurance is designed to protect lenders if the loan should ever default; it helps to reduce the risk of default that the lender would otherwise face. In Dunwoody, GA, the FHA mortgage insurance requires borrowers to pay a one-time, up-front premium as well as an ongoing, annual premium, which is typically rolled into the monthly payment. The amount of insurance required depends on the type of loan and the loan-to-value (LTV) ratio; its purpose is to protect lenders against potential losses due to borrower default.
What are the benefits of USDA insurance from Dunwoody mortgage insurance companies?
The USDA's mortgage insurance provides Dunwoody, GA homeowners the unique opportunity to purchase a home in a USDA-eligible area without having to make a down payment. In addition, USDA financing requires reduced private mortgage insurance, low fixed interest rates, no minimum credit scores, and 100% loan financing. USDA mortgage insurance may also help borrowers avoid out-of-pocket costs. For those with little to no equity, USDA mortgage insurance can be beneficial, as it may potentially help cover the cost of refinancing or increasing a loan's term to ease payments.
A VA loan is beneficial for borrowers looking to purchase a new home in Dunwoody, GA, as it provides them with access to attractive interest rates and loan limits more generous than conventional loans. For example, a qualified veteran may put down as little as 0%, as opposed to a minimum requirement of 3.5% for an FHA loan and 5% to 20% for a conventional loan. Additionally, the VA loan does not have monthly mortgage insurance premiums, a feature which can greatly reduce the amount of money a borrower needs to pay each month.
How much is mortgage insurance in Dunwoody?
The cost of mortgage insurance in Dunwoody, GA will vary depending on your loan size, type of loan, credit score, and other financial factors. Generally, you can expect to pay between .3 and 1.5 percent of your loan amount for mortgage insurance. However, it's important to speak with a local mortgage specialist to get a more accurate estimate based on your particular financial situation. Additionally, some loan programs provide alternatives to mortgage insurance, which may end up saving you money.
When does a Dunwoody mortgage insurance policy go away?
In Dunwoody, GA, the length of time for mortgage insurance to go away is dependent on the initial loan-to-value ratio of your mortgage. Generally speaking, if the initial loan-to-value ratio of your mortgage is below 80%, your mortgage insurance will typically go away once you reach 78% loan-to-value ratio based on the original value of the home. However, if the initial loan-to-value ratio of your mortgage is above 80%, the loan-to-value ratio has to be reduced to 75% or less before your mortgage insurance can go away.
Is there an online calculator for mortgage insurance from a Dunwoody mortgage insurance company?
Yes, there is an online calculator for mortgage insurance available in Dunwoody, GA. Residents of the city can use the calculator to estimate their monthly mortgage payment with their insurance premiums included. This helps to give a more accurate overview of what their overall home buying costs are going to be. Furthermore, taking the time to use the online calculator can give homeowners the ability to budget better for and manage their home insurance costs. For additional information, Dunwoody homeowners can reach out to a mortgage insurance specialist who will be able to provide more personalized assistance in navigating the process of home buying.
Are there alternatives to mortgage insurance companies in Dunwoody?
Yes, there are alternatives to mortgage insurance. In the Dunwoody, GA area, you may be eligible for an FHA loan, which requires only a 3.5% downpayment, and a VA loan, which requires no downpayment at all. Other options include Bank of America's Affordable Loan Solution, which allows a downpayment as low as 3%, and the HomeReady Loan Program, which requires a 3% downpayment and covers individuals with lower credit scores.
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