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 Front Royal, VA
Your one-stop-shop to compare all the rates, all at once.
With PolicyHub you get:
Over 20 policy provider comparison.
Explore multiple Front Royal, VA 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 important in Front Royal, VA as it provides financial security to the homeowner in case of life-altering events. Most mortgages require homeowners to take out mortgage insurance to protect lender investments, so if the homeowner becomes unable to make future payments due to health or job issues, the insurer will pay out the remaining principal balance of the loan. Mortgage insurance also helps protect the borrower in case of unexpected emergencies, providing a safety net in case of an emergency situation.
What is the minimum down payment to avoid a Front Royal mortgage insurance policy?
In Front Royal, VA, the exact minimum down payment to avoid mortgage insurance depends on the lender and the type of loan you are taking out. Generally speaking, most lenders in Front Royal require a minimum down payment of at least 5-15% of the purchase price of the home to avoid paying mortgage insurance. If you put down less than 20%, you are likely to be charged a monthly premium. It's important to note that lenders may also require additional upfront fees on top of your down payment in order for you to qualify.
Do I need a private mortgage insurance policy Front Royal?
In Front Royal, VA, whether you need private mortgage insurance (PMI) will depend on the loan program you choose as well as the amount of your down payment. FHA loans typically require PMI, but this may not be the case for a conventional loan with a large down payment. You should speak with a local mortgage lender, who can provide more specific information to you based on your individual situation. Additionally, your lender will be able to explain the differences between the various loan programs available in your area, and how those loans may or may not require PMI.
How does FHA mortgage insurance near Front Royal work?
For homeowners in Front Royal, Virginia, an FHA mortgage insurance (MIP) is necessary when taking out an FHA loan. This type of insurance is paid to the Federal Housing Administration (FHA) and helps to protect the lender in case the borrower defaults. The insurance is required for the entire term of the loan and is added to the monthly mortgage payment. The amount of the insurance premium depends on the loan amount, loan term, and loan to value ratio.
Do Front Royal mortgage insurance companies offer USDA insurance?
USDA mortgage insurance, available to qualified first-time homebuyers in Front Royal, VA, is an insurance program backed by the United States Department of Agriculture to help those with low to moderate incomes purchase homes in rural areas. It requires no down payment and offers low interest rates, which can potentially translate into a significant savings on the monthly mortgage payment. Additionally, the USDA offers no loan origination fees, meaning more money in your pocket at closing.
One drawback of a VA loan in Front Royal, VA is that potential borrowers may have difficulty qualifying due to the areaβs high costs of living. VA loans require borrowers to establish proof of income relative to their expenses, and those with a lower income to debt ratio may not qualify. Additionally, since VA loans are provided by lenders, borrowers may find they are paying slightly higher interest rates than what is available on other types of government home loans. Furthermore, VA loans may carry loan limits that could limit the purchase price of a home in more expensive areas such as Front Royal.
How much is mortgage insurance in Front Royal?
Mortgage insurance costs can vary depending on the size of the loan, the type of loan, and whether the loan is for an owner-occupied property or an investment property. In Front Royal, VA, FHA mortgage insurance typically costs approximately 1% of the loan amount plus an Upfront Mortgage Insurance Premium that could be up to 2.25%, depending on the size of the loan and the type of loan. Additionally, private mortgage insurance may be required when making a down payment of less than 20% and the cost of that varies depending on the particular lender.
What are the requirements to cancel my Front Royal mortgage insurance policy?
In order to cancel your mortgage insurance in Front Royal, VA, you must have had a mortgage for at least two years, have not missed any payments in the past year, and have 20% equity in your home. Additionally, you must provide supporting documentation to your lender to prove that you have increased the amount of equity you have in your home, or that financial circumstances have improved. Once your lender has approved your application, your mortgage insurance typically gets canceled the same day.
Is the mortgage insurance calculation method the same for every Front Royal mortgage insurance company?
Generally speaking, no the mortgage insurance calculation methods are not the same for all lenders. As part of the home buying experience, lenders in Front Royal, VA may use different methodologies for calculating the required insurance, such as an original principal balance, the loan amount, and debt-to-income ratios. Therefore, it is important to shop around and compare mortgage insurance calculations among lenders to determine the right fit for your financial needs.
What happens if I don't use mortgage insurance companies in Front Royal?
If you reside in Front Royal, Virginia, and decide against getting mortgage insurance, the risks are substantial. Without it, borrowers would have to come up with any and all costs related to their loan, such as damages due to a natural disaster, if the property value decreases, or if a payment goes unpaid. It is important to consider all potential risks as not having mortgage insurance leaves borrowers responsible for covering the remaining balance of the loan, as well as any damages, in the event of a foreclosure or other unexpected events.
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