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Compare over 20 top providers in East Stroudsburg, PA
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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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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.
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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...
When it comes to choosing the right mortgage insurance policy for your situation in East Stroudsburg, PA, it is important to conduct thorough research. You should compare different mortgage insurance policies before making a decision in order to find the policy that best fits your needs and budget. It is also important to make sure you understand the different coverage options and what is and isn't included in the policy. Additionally, consulting a professional insurance advisor in East Stroudsburg can help you make an informed decision that is tailored to your unique needs.
Does the cost of a East Stroudsburg mortgage insurance policy depend on the size of my down payment?
In East Stroudsburg, Pennsylvania, the cost of mortgage insurance typically does depend on the size of your down payment. If you're looking for a loan with a smaller down payment, you'll typically pay a higher mortgage insurance cost, as the loan is seen a greater risk by the lender. On the other hand, if you're able to make a larger down payment then the cost of mortgage insurance will usually be lower. As a rule of thumb, you should always seek to make a large down payment to reduce the size of the loan and the mortgage insurance cost.
What are the drawbacks of a private mortgage insurance policy East Stroudsburg?
In East Stroudsburg, PA, the main drawback of having private mortgage insurance (PMI) is that it is an extra monthly expense that adds to the cost of a home loan. Furthermore, PMI will not typically build equity in a home—if a homeowner stays in their residence for a long period of time, they may not recover the money they spent on their PMI. Additionally, PMI may be more difficult to obtain if the lender has an adverse credit score or if the homeowner has a lower credit score.
Who is eligible for FHA mortgage insurance near East Stroudsburg?
Those living in East Stroudsburg, PA who wish to apply for FHA mortgage insurance may do so directly through an approved lender. Typically, FHA loan requirements dictate that borrowers must have a valid social security number, be a legal resident of the United States, have a lawful financial history, and be of legal age. Additionally, applicants must have a qualifying credit score and have met other income qualifications. Once these criteria are met, those in East Stroudsburg, PA may submit an FHA loan application and make their homeownership dreams come true.
What are the benefits of USDA insurance from East Stroudsburg mortgage insurance companies?
Those living in East Stroudsburg, PA have access to many benefits of having a USDA mortgage insurance. Such benefits include the ability to purchase a home with no down payment, the potential for lower monthly payments, lower closing costs, and subsidized interest rates. Additionally, because the USDA mortgage insurance is government backed, those in East Stroudsburg often have more confidence when applying for the loan knowing the mortgage is secure. Furthermore, USDA mortgage insurance is available in more rural and suburban areas than other loan programs.
The VA funding fee is a one-time fee charged to borrowers using VA loans for home purchases in East Stroudsburg, PA. This fee helps to offset costs associated with the U.S. Department of Veterans Affairs guaranteeing these mortgages. The amount of the fee will vary depending upon factors such as the type of loan, whether the buyer is a veteran using their entitlement for the first time, the amount of the down payment, and other factors. Those who qualify may be able to have the fee waived, however.
What can I do to lower the cost of my mortgage insurance in East Stroudsburg?
In East Stroudsburg, PA, there are several ways to reduce the cost of your mortgage insurance. One of the best ways you can do this is by looking into refinance options. Taking out a different lender loan may lower your monthly payments and thus also remove your need to pay for costly mortgage insurance. Additionally, some insurance companies offer discounts for customers who pay in full annually, or special deals for those with more than two years' worth of clean claims history. You can also see if you are eligible for any additional types of discounts, such as loyalty or automatic payment discounts.
Can I cancel my East Stroudsburg mortgage insurance policy early?
Yes, you may be able to cancel your mortgage insurance early in East Stroudsburg, PA. It depends on your loan agreement and the date it was signed. Your lender can provide you with the exact policy details. Generally speaking, if you’ve built enough equity in your home, you may be able to cancel the mortgage insurance early. Similarly, if you refinance your South Stroudsburg area home for a better rate, you might also be eligible for an early cancellation. Before making any decisions, it’s best to research the details with your lender.
Can my East Stroudsburg mortgage insurance company help me calculate my mortgage insurance cost?
If you live in East Stroudsburg, PA and need help calculating mortgage insurance, your lender should be able to provide expert guidance. Generally speaking, mortgage insurance is designed to protect lenders in the event their customer defaults on their loan, so it's important to make sure the premium for your policy is accurate. A local lender in East Stroudsburg should be able to assist you in determining your insurance premium and they are often more familiar with the local market and thus more familiar with which insurance carriers are active, as well as their policy details.
Are there alternatives to mortgage insurance companies in East Stroudsburg?
Yes, there are alternatives to mortgage insurance in East Stroudsburg, PA! Depending on your income and credit score, you might qualify for a 95% loan-to-value (LTV) or a low-down payment mortgage loan. Also, some lenders offer piggyback loans, which are two loans that have overlapping terms that replace the need for mortgage insurance. Additionally, some borrowers may be eligible for Alternative Risk Transfer (ART) options such as lender-paid mortgage insurance (LPMI) or borrower-paid single premium mortgage insurance (SPMI).
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