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Compare over 20 top providers in Kent, WA
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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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Finding the perfect mortgage insurance policy starts with answering a few questions to help us serve you better.
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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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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 Kent, WA is what's known as Private Mortgage Insurance (PMI), which protects Lenders from default in the event of a borrower foreclosure. PMI is usually required when the down payment is less than 20-percent of the purchase price. How much PMI will cost and for how long depends on factors such as the loan amount and type, as well as your credit score. In some cases, PMI can be canceled when the amount of equity you own in your home reaches 20-percent or higher.
Does the cost of a Kent mortgage insurance policy depend on the size of my down payment?
The cost of mortgage insurance in Kent, WA is dependent on a variety of factors, the size of your down payment being one of them. Generally speaking, the larger your down payment, the lower the mortgage insurance costs will be. This is because a larger down payment reduces the amount of loan principal and, as a result, reduces the amount of insurance which is necessary to cover the loan. However, other variables such as the amount borrowed and the type of loan can also play into the total mortgage insurance cost.
Who is eligible for a private mortgage insurance policy Kent?
In Kent, WA, anyone who takes out a conventional mortgage loan and puts down less than 20% of the total purchase price of a home is eligible for private mortgage insurance. This is because lenders require some form of protection against the risk of a borrower defaulting on the loan, and private mortgage insurance provides this. It is important to note, however, that someone with a lower credit score and higher debt-to-income ratio may have to pay a higher premium for private mortgage insurance.
What are the drawbacks of FHA mortgage insurance near Kent?
One drawback of an FHA mortgage insurance for those living in Kent, WA is the cost. Buyers who take out a loan with the FHA are required to pay an upfront mortgage insurance premium as well as a monthly mortgage insurance premium, which can add up over time and can put a large financial strain on households. Also, since the FHA only allows a borrower to finance up to 96.5% of the purchase price, buyers may be forced to come up with a substantial amount of cash to cover the remaining down payment.
What are the benefits of USDA insurance from Kent mortgage insurance companies?
For residents of Kent, WA, a USDA mortgage insurance offers many potential benefits. One of the most attractive benefits is a lower down payment requirement. With a USDA loan, home buyers in the area can obtain 100% financing. This can significantly reduce the amount of upfront costs associated with a mortgage. Additionally, USDA lending often comes with a lower interest rate, as well as no pre-payment penalty, providing additional cost savings for those looking to purchase a home. Another perk of opting for an USDA loan is the flexible eligibility requirements.
Any veteran living in Kent, WA who has been actively serving or honorably discharged from a branch of the U.S. Armed Forces is eligible to apply for a VA loan. VA loans are backed by the Department of Veterans Affairs, providing qualifying veterans with great loan terms and low mortgage rates. Applicants must provide proof of service and meet certain service requirements. For more information, veterans can contact their local VA office or visit the VA benefits website in Kent, WA.
What factors influence the cost of mortgage insurance in Kent?
In Kent, WA, many factors influence the cost of mortgage insurance, including the mortgagor's credit score, the size and term of the mortgage, and the down payment amount. For instance, borrowers in Kent with good credit scores typically receive more favorable rates than those with lower scores. Additionally, the longer the loan term, the higher the mortgage insurance, while larger down payments tend to reduce the cost. Also, buyers of certain types of property, such as those with more than four units, may require higher insurance premiums than those for single-family homes.
Can I cancel my Kent mortgage insurance policy early?
In Kent, WA, it is possible to cancel your mortgage insurance early. Specific rules and regulations will vary based on your lender and policy, and you should contact your lender or policy provider to discuss your options. If you meet the criteria, you may be able to cancel your mortgage insurance when the loan-to-value ratio of your home reaches 80% or 78%, which occurs when you have a 20% or 22% equity stake in your home.
How do I calculate mortgage insurance for a Kent mortgage insurance company?
To accurately calculate the mortgage insurance in Kent, WA, it is important to do your research and consult with a qualified loan officer or banker. By researching current mortgage rates and regulations in your area, you can gain a better understanding of what payments you can expect for your mortgage. Additionally, you may want to ask your loan officer or banker for their assistance in helping you calculate your mortgage insurance. With their expertise, they can provide you with a more accurate and comprehensive assessment of the payments you may need to make.
What happens if I don't use mortgage insurance companies in Kent?
If you choose not to get mortgage insurance in Kent, WA, you are taking on a major risk. Without this financial protection, you could find yourself in an impossible financial situation if something unexpected were to happen. This could include death of an insured person on the loan, non-payment of taxes or insurance, disaster, lawsuit, or a decline in property values. If you don’t have mortgage insurance, you’d need to pay the mortgage lender in full if you’re unable to make payments.
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