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 Freeport, NY
Your one-stop-shop to compare all the rates, all at once.
With PolicyHub you get:
Over 20 policy provider comparison.
Explore multiple Freeport, NY 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...
There are two main types of mortgage insurance offered in Freeport, NY – Private Mortgage Insurance (PMI) and Mortgage Insurance Premium (MIP). PMI is usually required when putting down less than 20% on a home, and is paid as an upfront fee at closing. On the other hand, MIP is typically required on all FHA loans, meaning a borrower would be responsible for an ongoing monthly premium. It is important to be aware of the specific requirements for each type of loan you are considering so that you can accurately budget for the total cost.
How can I reduce my Freeport mortgage insurance policy cost with a larger down payment?
If you are looking to reduce your mortgage insurance costs with a larger down payment in Freeport, NY, you may be eligible for a HomeReady or Home Possible Mortgage. These mortgages are designed to help lowand moderate-income borrowers purchase a home with a smaller down payment and may provide discounted mortgage insurance premiums. Additionally, larger down payments can qualify you for preferential interest rates, helping to further reduce your total cost. Have a local lender review your options to see if one of these programs fits your needs.
What are the drawbacks of a private mortgage insurance policy Freeport?
One of the potential drawbacks of private mortgage insurance in Freeport, NY is the cost that is typically associated with it. This cost can include a one-time upfront premium that is paid as part of closing costs or a monthly premium that is added to the mortgage payment every month. Additionally, the cost of the PMI can vary based on the provider as well as the size of the loan and its term.
How does FHA mortgage insurance near Freeport work?
In Freeport, NY, FHA mortgage insurance works by providing borrowers with an opportunity to put down a lower down payment with a more lenient qualifying criteria. FHA mortgage insurance helps provide lenders with the necessary security to provide lower cost financing to lower income and/or less-than-perfect credit borrowers. FHA mortgage insurance is actually a form of mortgage insurance obtained by lender from the Federal Housing Administration on behalf of the borrower, which is charged as a percentage of the loan amount. The amount varies depending on the loan and length of the mortgage, but can range from 0.
Who is eligible for USDA insurance from Freeport mortgage insurance companies?
In Freeport, NY, people who meet USDA's income and credit eligibility criteria are eligible for USDA mortgage insurance. To qualify, applicants must not exceed USDA's income limit, which is based on both the applicant's household size and the location of the home. Furthermore, applicants must have a satisfactory credit history and meet other USDA requirements. For Freeport, NY, the maximum single-family dwelling income limit for a household of 1-4 is $86,200, while the limit for a household of 5-8 is $114,400.
One of the drawbacks of a VA loan in Freeport, NY is that military personnel must live in the property purchased with the loan. While this is not necessarily a challenge for families, it can be difficult for those who move often for career needs. Additionally, VA loans in Freeport, NY are limited to properties appraised for no more than the local loan limit, so those seeking higher-priced residences may not be able to purchase with a VA loan.
What factors influence the cost of mortgage insurance in Freeport?
Factors that influence the cost of mortgage insurance in Freeport, NY include property location, cost of the home, lender, credit score, and type of loan. Property location can significantly influence the cost of mortgage insurance, as areas with higher home values tend to have higher mortgage insurance rates. Additionally, the cost of the home and the type of loan you choose can have an effect on the cost of insurance. Lenders may also offer different rates, especially if you have an excellent credit score.
What process do I need to follow to cancel my Freeport mortgage insurance policy?
To cancel your mortgage insurance in Freeport, NY, you should contact your lender or mortgage servicer and provide them with proof that your home's loan-to-value (LTV) ratio has reached 80% or less. Your mortgage servicer will then evaluate your request and, if eligible, cancel your private mortgage insurance (PMI). If your loan was sold to another lender, you should contact that lender directly. Depending on your loan type and other circumstances, you may be able to request an expedited PMI cancellation process. You may also be charged a cancellation fee.
Is there an online calculator for mortgage insurance from a Freeport mortgage insurance company?
Yes! In Freeport, NY, you can easily calculate your mortgage insurance with an online calculator. One of the best tools available is the Mortgage Insurance Calculator from Freeport Federal Credit Union. This program is simple to navigate and can provide you with an accurate rate for mortgage insurance. It also offers advice and tips that can help you make the best decision for your particular situation. With the Mortgage Insurance Calculator, you can obtain a comprehensive analysis of your current situation, and determine the amount of coverage you need for your mortgage.
Can I opt out of services from mortgage insurance companies in Freeport?
In Freeport, NY, homeowners may be able to opt out of mortgage insurance depending on the type and terms of the mortgage agreement. Generally, if you have a loan which is more than 80% or the appraised value of the home, mortgage insurance is required. However, depending on the lender, you may be able to request a private mortgage insurance borrower-requested termination. This is a great option for those with equity in their property.
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