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 Jasper, AL
Your one-stop-shop to compare all the rates, all at once.
With PolicyHub you get:
Over 20 policy provider comparison.
Explore multiple Jasper, AL 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 in Jasper, AL works by offering an additional layer of protection to lenders if borrowers have difficulty making payments on their loans. The insurance ensures that the lender is still paid in full if a borrower defaults on their loan. Typically, mortgage insurance is required by lenders when borrowers provide a down payment of less than 20% of the home's purchase price. Borrowers can opt to pay a one-time upfront premium or can finance the premium into their loan, which can add to their total mortgage repayment.
Does the cost of a Jasper mortgage insurance policy depend on the size of my down payment?
In Jasper, AL, the cost of mortgage insurance does depend on the size of your down payment. For example, with a down payment of less than 20%, you typically will have to pay for mortgage insurance. As you increase your down payment, the amount of mortgage insurance you have to pay decreases. This is because the larger your down payment, the more equity you have in the home and the lower your loan-to-value ratio. Furthermore, the lower your loan-to-value ratio, the lower your mortgage insurance premium.
Who is eligible for a private mortgage insurance policy Jasper?
Anyone in Jasper, AL with less than a 20% down payment is likely eligible for private mortgage insurance (PMI). To determine if an individual qualifies, lenders in Jasper may consider their credit score and financial history as well as the loan-to-value ratio. Private mortgage insurance may be a requirement for individuals who want to obtain a conventional loan and cannot make the traditional 20% down payment. Depending on the loan program and established lending criteria, applicants must also meet Debt to Income (DTI) and other financial eligibility requirements to be considered for PMI.
How does FHA mortgage insurance near Jasper work?
FHA Mortgage Insurance is designed to protect lenders in the event of borrowers defaulting on their loan in Jasper, AL. The insurance, which is paid for by the borrower, allows mortgage lenders to offer low-downpayment loans without taking additional risk. Once the borrower secures the loan, the borrower is required to make a one-time upfront mortgage insurance premium payment along with annual premium payments. The upfront mortgage insurance premium is usually paid in full at closing, while the annual premium is split up into monthly payments and paid along with the borrowers' mortgage payments.
Who is eligible for USDA insurance from Jasper mortgage insurance companies?
In Jasper, AL, anyone who meets the eligibility requirements of the United States Department of Agriculture (USDA) can be eligible for USDA mortgage insurance. These eligibility requirements typically are based on an applicant's income, location, and credit history, and each applicant must demonstrate that they have the sustainable income and credit history necessary to afford a loan. For residents of Jasper, AL, some USDA loans also allow applicants to purchase homes with no down payment and no upfront mortgage insurance premiums.
The VA funding fee for Jasper, AL is calculated based on your eligibility. Generally, the fee can range from 1.4% to 3.6% of the loan amount for first-time borrowers, with other veterans and certain categories of borrowers entitled to reduced fees. Additionally, you may qualify to receive a waiver of the funding fee based on the characteristics of your loan and your disability status. If you are not sure how much your funding fee will be, then it is important to speak to your loan officer to find out more information.
What factors influence the cost of mortgage insurance in Jasper?
The cost of mortgage insurance in Jasper, AL will be determined by a variety of factors, such as the buyer's credit score, loan-to-value (LTV) ratio, and loan amount. Generally speaking, borrowers with higher credit scores and lower loan-to-value ratios will usually qualify for lower mortgage insurance rates, while borrower's with lower credit scores and higher loan-to-value ratios will typically pay higher rates. Additionally, the amount of the loan will also influence the cost of mortgage insurance, as it may require additional coverage for large loans.
When does a Jasper mortgage insurance policy go away?
It depends on Jasper, AL and the type of mortgage insurance you have. If you have an FHA loan, mortgage insurance goes away once your loan to value ratio reaches 78%. That means that you need to pay down at least 22% of your loan balance before the mortgage insurance automatically cancels. If you don't have an FHA loan, however, your lender is able to set the terms for when the mortgage insurance cancels, which could mean that you need to pay down the entire loan balance or build up 20%-30% equity in the property before the mortgage insurance goes away.
How do I calculate mortgage insurance for a Jasper mortgage insurance company?
Calculating mortgage insurance in Jasper, Alabama depend on a few factors, such as the loan amount and the loan-to-value (LTV) ratio of the mortgage. An LTV ratio is the loan amount divided by the value of the home. Generally, mortgage insurance is required when the LTV ratio is greater than 80%. To calculate your mortgage insurance, a good place to start is by contacting an experienced mortgage broker in Jasper, AL. They will be able to provide guidance and guidance on the best options for you based on your unique situation.
Who is required to use mortgage insurance companies in Jasper?
In Jasper, Alabama, any borrower with less than 20% equity in their home is typically required to possess mortgage insurance. That is, unless the loan has been packaged into a mortgaged-backed security as part of the Federal National Mortgage Association (FNMA) or Federal Home Loan Mortgage Corporation (FHLMC). In such cases, the private mortgage insurance (PMI) coverage would not be necessary.
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