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Compare over 20 top providers in Fresno, CA
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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
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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...
Mortgage insurance in Fresno, CA protects borrowers if they can't make their mortgage payments. This type of insurance typically requires borrowers who put down less than a 20% often referred to as low-down-payment borrowers to pay mortgage insurance to make up for the higher risk associated with not having enough money up front. Mortgage insurance companies will often pay lenders if a borrower defaults on a loan, helping to protect lenders from major financial losses.
Can I avoid a Fresno mortgage insurance policy with a larger down payment?
Yes, you can generally avoid mortgage insurance with a larger down payment in Fresno, CA. With a down payment of 20% or more, you can avoid paying the additional costs that come from private mortgage insurance (PMI). On top of this, you could also potentially qualify for more competitive interest rates and access to special loan programs in Fresno specifically. Having a larger down payment can also give you more leverage when negotiating with lenders, so it can definitely be beneficial when looking to purchase a home in Fresno.
Do I need a private mortgage insurance policy Fresno?
In Fresno, CA, it depends on the amount you're wanting to borrow for your mortgage. If you're borrowing more than 80% of the home's value, then yes, you will need to purchase private mortgage insurance (PMI). It's a way of protecting lenders from losses due to defaults. Additionally, there are certain benefits to PMI; paying for PMI can help you get the property you want quicker and it's important to understand that PMI will be paid as part of your monthly mortgage payment.
Who is eligible for FHA mortgage insurance near Fresno?
In Fresno, California, anyone who meets the eligibility requirements established by the U.S. Department of Housing and Urban Development (HUD) may be eligible for FHA mortgage insurance. To qualify, borrowers must have a valid Social Security number, a minimum credit score of 500, and proof of current employment. Additionally, buyers must have a minimum down payment of 3.5 percent and must demonstrate their ability to pay. Furthermore, borrowers are required to attend homeownership counseling before purchasing a home with an FHA-insured loan.
What are the drawbacks of USDA insurance from Fresno mortgage insurance companies?
In Fresno, CA, a USDA mortgage includes the requirement for mortgage insurance, which can affect a homeowner's overall affordability. This means that monthly payments, which already include principal, interest, taxes, and insurance, could be even higher. Additionally, the upfront premiums can reduce your available cash, so that you may not be able to make the necessary repairs and improvements to your home. These potential fees and expenses can limit your financial flexibility down the road and reduce your overall purchasing power as a homeowner.
VA loans offer significant advantages for Fresno, CA homebuyers, such as zero down payment financing, no mortgage insurance, and no private mortgage insurance. VA loans also come with more flexible credit score requirements compared to other types of home loans. Furthermore, veterans, active-duty servicemembers, and certain surviving spouses may be eligible for financing of up to 100% of the purchase price of a property. In some cases, sellers may also be willing to pay some of the closing costs associated with a VA loan.
Can I negotiate the cost of my mortgage insurance in Fresno?
It may be possible to negotiate the cost of your mortgage insurance when you are purchasing a home in Fresno, CA. Your bank or lending institution will likely be able to provide you with options and guidance on how to manage the cost of your mortgage insurance. They may also provide you with discount opportunities based on your loan terms and/or credit score. It's important to do your research and compare quotes from different companies before making your final decision. With a little bit of research, you may be able to save money on your mortgage insurance and get the best rates on coverage for your new home.
Does the mortgage insurance termination process vary by Fresno mortgage insurance policy?
Generally, yes, the mortgage insurance termination process does vary by lender, and this is especially true in Fresno, CA. Many lenders in the Fresno area offer unique programs and requirements for terminating mortgage insurance. Some lenders may require an appraisal in order to verify that the home is in good condition and has maintained its value, while others may require a title search to validate the current ownership of the home. It is recommended that potential borrowers in Fresno investigate the requirements and processes of the specific lenders they are considering to determine the best path forward to terminate their mortgage insurance.
Can my Fresno mortgage insurance company help me calculate my mortgage insurance cost?
Yes, your lender can help you calculate your mortgage insurance in Fresno, CA. Many lenders provide their clients with a wide range of mortgage insurance-related calculators, enabling you to quickly and easily estimate the amount of mortgage insurance you may need. Additionally, an experienced Fresno, CA-based lender can provide expert advice and assistance for calculating your mortgage insurance. They will help you analyze your current financial situation and determine the best plan for paying off your mortgage quickly and in the most cost-effective manner.
Can I opt out of services from mortgage insurance companies in Fresno?
Yes, you can opt out of mortgage insurance in Fresno, CA. However, you must meet certain requirements in order to do so. For example, in most cases, you must have a loan-to-value ratio (LTV) of 80% or less to be eligible. Additionally, you must sign a request to remove the coverage from an FHA mortgage insurance program in order to receive approval. Depending on your lender, there may be other restrictions you must meet prior to opting out of mortgage insurance. Be sure to speak with your lender to find out more information on how to opt out.
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