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 Essex, MD
Your one-stop-shop to compare all the rates, all at once.
With PolicyHub you get:
Over 20 policy provider comparison.
Explore multiple Essex, MD 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...
Mortgage insurance is an important factor to consider for prospective home owners in Essex, MD. Mortgage insurance helps protect home owners from financial liability should the unexpected happen, such as unemployment, disability, or death. This type of insurance can help Essex home owners maintain their home by covering their mortgage payments so they can stay in their home while managing personal financial struggles. Additionally, mortgage insurance can help Essex home buyers purchase a home with a lower down payment amount, which can greatly increase purchasing power and save homeowners money in the long-term.
How does a larger down payment affect my Essex mortgage insurance policy cost?
A larger down payment on a mortgage in Essex, MD can have a significant effect on mortgage insurance costs. By putting more money down at the time of closing, a borrower may be able to avoid paying mortgage insurance altogether. Alternatively, lenders may offer reduced mortgage insurance rates depending on how much money the borrower puts down. Ultimately, a larger down payment can decrease a monthly mortgage payment, reducing costs and helping homeowners achieve their financial goals more quickly.
Who is eligible for a private mortgage insurance policy Essex?
Residents of Essex, MD who wish to apply for private mortgage insurance may be subject to a variety of eligibility requirements depending on their lending institution. Generally, the requirements include a minimum credit score, adequate income to cover the mortgage payments, and a sufficient down payment. However, the exact requirements could vary from lender to lender. It's best to speak with a financial advisor or mortgage lender to determine if you are eligible for this type of insurance.
Who is eligible for FHA mortgage insurance near Essex?
Residents of Essex, Maryland who satisfy the standard Federal Housing Administration (FHA) criteria are eligible to apply for an FHA mortgage. In order to qualify, individuals must have a socially-security number, be a legal resident of the United States, occupy the property as their principal residence, meet financial requirements and provide necessary documentation. Depending on the specific loan program, borrowers may need to have a credit score of at least 500 and make a down payment of at least 3.5% of the purchase price. Potential borrowers should use a lender that is approved by the Federal Housing Administration (FHA).
Do Essex mortgage insurance companies offer USDA insurance?
USDA mortgage insurance provides borrowers in the Essex, MD area the unique opportunity to purchase a home with no down payment and low closing costs. This insurance helps to cover the lender in the event of a borrower's default on a loan, allowing the USDA to guarantee loans up to 100% of the appraised value of the home. The financing option is particularly attractive to those with limited funds to put down on a home, offering a means to invest into the long-term appreciation of owning a home. Furthermore, as the borrower builds equity through loan payments, the percentage of mortgage insurance required decreases over time.
VA loans offer several unique benefits to Essex, MD residents. Perhaps most significantly, VA loans do not require a down payment, and buyers may also be able to finance their closing costs. Similarly, VA loan limits are set higher than FHA or conventional mortgage limits, meaning that VA loans may be a more attractive option for those looking to purchase more expensive properties. Additionally, VA loans often have lower interest rates than traditional mortgage options, and VA loans don’t require mortgage insurance premiums.
Are there discounts available for mortgage insurance in Essex?
Yes, discounts are available for mortgage insurance in Essex, MD. Varying terms, discounted premiums, and additional quality services can be accessed as needed. The regional mortgage insurance specialist in Essex provides a variety of affordable plans to fit the needs of both home buyers and homeowners alike. Reduced rates are attached to each policy to make them more cost-effective, without compromising quality services. Additionally, the specialist offers extended payment plans to qualified buyers. The quality services and low premiums make purchasing mortgage insurance in Essex, MD an easy and wise financial decision.
When does a Essex mortgage insurance policy go away?
Mortgage insurance requirements in Essex, MD depend on the type of loan. Conventional loans typically require mortgage insurance when the loan-to-value is greater than 80%. This mortgage insurance will continue until the loan-to-value (LTV) ratio reaches 78%, at which point the mortgage insurance is no longer required. FHA loans typically have different requirements for mortgage insurance, and mortgage insurance is typically required for the life of the loan. Generally speaking, borrowers in Essex, MD can expect mortgage insurance to go away once the loan-to-value ratio reaches 78%.
What factors are considered when calculating mortgage insurance for a Essex mortgage insurance company?
Factors that are considered when calculating mortgage insurance in Essex, MD include the home's loan-to-value ratio, occupancy status, credit score, loan type, length of loan, and coverage amount. For instance, loaning up to a certain amount will require higher mortgage insurance premiums than a smaller loan amount due to the increased risk assumed by the lender. Credit score may also factor into the calculation, as higher scores will often qualify for a lower premium than a lower credit score. Additionally, certain loan types may receive a lower premium based on the term and type of loan selected.
Who is required to use mortgage insurance companies in Essex?
In Essex, MD, any mortgage lender offering financing on homes that are not owner occupied, require the borrower to carry mortgage insurance. Mortgage insurance is also known as Private Mortgage Insurance (PMI), and is designed to protect the lender if the borrower defaults on the loan. Generally, mortgage insurance is required if a borrower has less than a 20 percent downpayment on the home. This insurance is paid as part of the borrower’s monthly mortgage payment until a certain loan-to-value ratio is reached.
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