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Compare over 20 top providers in Fort Lauderdale, FL
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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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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...
In Fort Lauderdale, FL, there are three primary types of mortgage insurance available to candidates for a loan: private mortgage insurance (PMI), Federal Housing Administration (FHA) mortgage insurance, and Veterans Affairs (VA) mortgage insurance. PMI is paid directly to the lender for a conventional mortgage loan and is required for applicants who have a 20% or less down payment. FHA mortgage insurance is sponsored by the federal government and requires a premium to be paid to the FHA, while still offering more lenient credit requirements for potential borrowers.
Does the cost of a Fort Lauderdale mortgage insurance policy depend on the size of my down payment?
In Fort Lauderdale, FL, the cost of mortgage insurance does depend on the size of the down payment. Generally, the higher the down payment, the lower the cost of mortgage insurance, because the less amount that is being financed, the lower the risk. As an example, for conventional loans, the cost of mortgage insurance for borrowers who put down less than 20% on their home loan would be much higher than that of borrowers who are able to put down over 20%.
What is a private mortgage insurance policy Fort Lauderdale?
Private mortgage insurance is a form of coverage that protects lenders from potential losses associated with mortgage defaults. In Fort Lauderdale, FL, it is a requirement that if you are not able to put down 20% or more of the overall purchase price of a home, you must purchase private mortgage insurance to cover any potential losses the lender might face. This insurance coverage is required until a homeowner has built up at least 20% equity in their property. It can provide real estate buyers with added peace of mind that their lender will be well protected in the event of a financial emergency.
Who is eligible for FHA mortgage insurance near Fort Lauderdale?
Homebuyers in Fort Lauderdale, FL who meet certain qualifications may be eligible for Federal Housing Administration (FHA) mortgage insurance. In order to receive FHA insurance, borrowers must typically meet certain employment requirements, have good credit, and an acceptable debt-to-income ratio. In order to receive the FHA loan, the home must also meet certain FHA standards for its condition, and the appraised value of the property must exceed the amount of the mortgage.
Do Fort Lauderdale mortgage insurance companies offer USDA insurance?
USDA mortgage insurance is a great tool for home buyers in Fort Lauderdale, FL. It is a government-backed program that helps qualified borrowers with low-to-moderate incomes obtain a mortgage to purchase a home without a large down payment or perfect credit. This mortgage insurance essentially helps to protect lenders against loss and allows them to provide loans on more favorable terms. It generally offers lower rates than conventional loans, as well as reduced costs from not having to pay private mortgage insurance. Overall, USDA mortgage insurance is an attractive option for home buyers in the Fort Lauderdale area.
In Fort Lauderdale, Florida, veterans, and active duty military, current and former members of the Reserves, and National Guard are all eligible for VA loans. Additionally, the surviving spouses of peacetime veterans and those on active duty as of a certain date and the spouses of veterans who died in service or as a result of service-related disabilities are also eligible. Those who qualify for a VA loan can purchase a primary residence in Fort Lauderdale or refinance an existing loan at a lower interest rate.
What factors influence the cost of mortgage insurance in Fort Lauderdale?
In Fort Lauderdale, FL, multiple factors may influence the cost of mortgage insurance, such as the borrower's credit score, current interest rates, the loan-to-value ratio of the loan, and the mortgage term. Other factors, including the size of the down payment, the type of primary residence, and income, insurance and property taxes, may also impact the cost of mortgage insurance. One of the most significant factors that determine the cost of mortgage insurance is the borrower's payment history.
Does the mortgage insurance termination process vary by Fort Lauderdale mortgage insurance policy?
Yes, the mortgage insurance termination process can vary depending on the lender in Fort Lauderdale, FL. Although some lenders may require a home appraisal to be completed, others may require additional paperwork to be filled out, and yet more may not require any paperwork at all. It is important to check with your individual lender to see what the process is for mortgage insurance termination. Different lenders might also require different evidence to prove that the loan is in a current and secure financial state. It's best to speak to a representative from your lender to get an understanding of what steps you need to take for your unique circumstance.
Can my Fort Lauderdale mortgage insurance company help me calculate my mortgage insurance cost?
Yes, most lenders in Fort Lauderdale, FL will be able to help you calculate your mortgage insurance. Additionally, many local banks or credit unions may have mortgage calculators available online and/or have experienced loan officers that can assist you in determining the exact value of your mortgage insurance. You may even be able to ask your lender for personalized advice regarding mortgage insurance, based on your financial situation and the type of loan you’re seeking. As always, it's important to research your options and properly compare the different lenders in the area to ensure you get the best deal on mortgage insurance.
Who is required to use mortgage insurance companies in Fort Lauderdale?
In Fort Lauderdale, FL, anyone who has a mortgage loan which is more than 80% of the appraised value of the home may be required to obtain mortgage insurance. Depending on the coverage requested, this could be private mortgage insurance (PMI) or coverage from an agency such as the Federal Housing Administration (FHA). PMI is typically required if you put less than 20 percent down on the home. FHA mortgage insurance is usually obtained in a situation where the down payment is less than 3.5% of the home's sale price.
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