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Compare over 20 top providers in Guthrie, OK
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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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Step 2
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Discuss your options with a licensed insurance agent. Compare different plans to find the best policy with the cheapest rates.
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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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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.
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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...
Finding the right mortgage insurance policy for your needs in Guthrie, OK can be a daunting task. It's important to take the time to research various policies in order to get the most out of your money and ensure you have the proper coverage. Make sure to consider the length of the policy, the coverage you require, the associated fees, and any additional benefits that may be offered. Additionally, if applicable, it is a good idea to compare different policies from local insurers in Guthrie to make sure you are getting a competitive rate for the coverage you need.
What is the minimum down payment to avoid a Guthrie mortgage insurance policy?
The minimum down payment to avoid mortgage insurance in Guthrie, OK will depend on a variety of factors such as the amount you are borrowing, as well as the type of mortgage you choose. Generally speaking, for conventional mortgages, you will want to put down a minimum down payment of 20% to avoid paying for the mortgage insurance. If you're looking to take out an FHA loan in Guthrie, then the minimum required down payment is 3.5%.
What are the benefits of having a private mortgage insurance policy Guthrie?
Private mortgage insurance (PMI) can be beneficial for homeowners in Guthrie, OK who do not have a 20% down payment. PMI can be a cost-effective option for borrowers who are unable to meet the criteria for other types of mortgage loans. With private mortgage insurance, you pay a one-time, up-front premium, as well as an ongoing premium that's included in your monthly mortgage payments. PMI can offer added peace of mind when making monthly mortgage payments.
What are the drawbacks of FHA mortgage insurance near Guthrie?
All FHA mortgages require mortgage insurance, which ensures that lenders can cover their costs if a borrower defaults on their loan. For many borrowers in Guthrie, OK, the cost of mortgage insurance can be a downside as this adds to the overall cost of the loan. However, it is an important factor to consider when looking into an FHA mortgage in Guthrie as mortgage insurance helps keep loan rates low and allows for more leniency in qualifications than with other types of mortgages. Nonetheless, it is important to be aware of the associated costs with FHA mortgage insurance when considering an FHA loan.
Do Guthrie mortgage insurance companies offer USDA insurance?
USDA mortgage insurance is available to home buyers in Guthrie, Oklahoma, wishing to purchase a primary residence within certain Rural Development designated areas. As with all mortgage programs, USDA mortgage insurance helps protect lenders by offering a guarantee in the event of default. Those interested in taking advantage of the USDA program must meet the agency's income and geographic requirements. Benefits of this type of loan program include lower interest rates and potentially no down payment. USDA mortgage insurance allows more individuals to become homeowners in rural areas of Guthrie, Oklahoma.
The VA funding fee is a one-time, upfront cost associated with VA mortgages that applies to all borrowers, regardless of location. For veterans in Guthrie, OK, the standard fee is 2.3 percent of the loan amount, though certain groups are exempt, such as veterans receiving disability compensation, veterans who qualify as low-income borrowers, and Native American veterans using a VA loan to buy a home on a reservation. Additionally, the fee may be waived for veterans with a service-connected disability. The VA funding fee helps to ensure that veterans continue to have access to affordable mortgages.
What factors influence the cost of mortgage insurance in Guthrie?
The cost of mortgage insurance in Guthrie, OK is dependent on a range of factors that include the specific lender; the loan amount and loan type; and the borrower's credit score, debt-to-income ratio, and loan-to-value ratio. Lenders offer different mortgage insurance rates and terms, so it's important to shop around to find the best deal. The amount of the down payment and home value can also affect the cost and coverage of mortgage insurance. The age of the house, too, plays a role in the decision.
What are the requirements to cancel my Guthrie mortgage insurance policy?
To cancel mortgage insurance in Guthrie, OK you typically must have a loan to value ratio of 78 percent or higher on your mortgage and you must be current on your mortgage payments. Generally, property owners must provide proof that their loan-to-value ratio is 80 percent or lower, and a request to the mortgage servicer that the mortgage insurance be cancelled. Some lenders require an appraisal be completed to verify the value of the property, and other lenders may require removal language in the mortgage instrument itself.
Is there an online calculator for mortgage insurance from a Guthrie mortgage insurance company?
In Guthrie, OK, we have access to an excellent online mortgage insurance calculator from our bank, Guthrie Bank. Our calculator is user-friendly and easy to use. It helps you figure out the best type of insurance coverage for your loan. Whether you're considering a fixed or adjustable rate loan, our calculator will help you find the right fit for your budget and needs letting you make financial decisions with confidence. Our calculator also easily calculates costs associated with insurance premiums, so you can budget accordingly. We are here to help make sure your mortgage insurance fits your goals and keeps your budget manageable.
Are there alternatives to mortgage insurance companies in Guthrie?
In Guthrie, OK there are several alternatives to mortgage insurance, including Veteran loans, Rural Development loans from the USDA, and FHA loans. A Veteran loan is available to those who have served in the military and offers a 0% down payment and no need for mortgage insurance. With USDA Rural Development loans, borrowers can finance up to 102.5% of the appraised value with no mortgage insurance. Additionally, FHA loans offer reduced costs for low-to-moderate-income families and require a 3.5% down payment with no mortgage insurance.
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