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Compare over 20 top providers in Kettering, OH
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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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"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 is important for homeowners in Kettering, OH, because it provides protection in case of financial loss. It can cover a wide range of circumstances such as unemployment, death, disability, or loss of income. If a homeowner loses their job or is unable to make payments due to illness, the insurance can help cover the cost and help keep them from facing foreclosure. In addition, mortgage insurance can also protect the lender by allowing them to continue with the loan in the event of a default.
How can I reduce my Kettering mortgage insurance policy cost with a larger down payment?
Making a larger down payment on your home in Kettering, OH is a great way to lower your mortgage insurance cost. Generally, the more money you are able to pay upfront on your home, the lower your monthly mortgage payments will be. Having a higher down payment can also help to qualify for lower rates and shorter mortgage terms, which means even more savings. Additionally, your lender may require a higher down payment to skip mortgage insurance altogether. When combined, these savings can quickly add up.
Do I need a private mortgage insurance policy Kettering?
Considering the prevalence of private mortgage insurance (PMI) in the conventional loan market, many buyers in Kettering, OH may wonder if they need to pay for this coverage. The short answer is, it depends. Generally, borrowers who make a down payment of less than 20% of the total purchase price of a home are required to acquire PMI. On the other hand, should you wish to avoid PMI and have the financial means, it is possible to put down more than 20%, either through your own funds or through borrowing from other sources.
What is FHA mortgage insurance near Kettering?
FHA mortgage insurance is a type of insurance offered by the Federal Housing Administration (FHA) that provides protection to lenders should a borrower default on their monthly mortgage payments. In Kettering, OH, borrowers are required to pay a one-time up-front mortgage insurance premium along with a smaller annual premium which is typically 0.85% of the loan amount if purchased with a 30-year loan term. FHA mortgage insurance provides a safety net for lenders making it easier for borrowers with less than perfect credit to access mortgage loans.
What are the benefits of USDA insurance from Kettering mortgage insurance companies?
The USDA mortgage insurance program provides unique benefits to residents in Kettering, Ohio and other rural areas throughout the country. These benefits include competitive rates, affordable monthly payments, and flexibility when it comes to loan package options. Additionally, closing costs can often be rolled into the loan itself. Furthermore, USDA mortgage insurance provides funds that are held and maintained by local lenders, which helps to strengthen local economies. Furthermore, this program gives applicants the availability to purchase a home without a down payment.
In Kettering, OH, VA loans can be an incredible benefit to eligible veterans, allowing them to purchase a home without the need for a down payment. Beyond that, such loans have flexible credit requirements and no private mortgage insurance, making them appealing in comparison to traditional mortgage offerings. Veterans can also prioritize their financial needs with a VA loan, as they are able to purchase more for their money than they would be able to with a conventional mortgage. Additionally, a refinancing option is available that can reduce monthly payments or pay off the loan faster.
Can I negotiate the cost of my mortgage insurance in Kettering?
While the cost of mortgage insurance for residents in Kettering, OH can vary, the cost is often non-negotiable. However, it may be possible to find different ways to minimize mortgage insurance costs. Utilizing local professionals to assess individual circumstances can provide creative solutions for reducing overall expenses and saving money on mortgage insurance. Contacting a local loan officer for guidance and exploring options like funding with a larger down payment can be beneficial. Additionally, researching insurance companies that impose lower fees or discounts can help find the most cost-effective mortgage insurance plan available.
When does a Kettering mortgage insurance policy go away?
In the city of Kettering, mortgage insurance typically goes away when you reach a loan to value of approximately 78%, or 22% equity in the home. This milestone is usually reached due to a combination of principal reduction through payments and home appreciation. Generally, the amount of time it takes to reach the 78% loan to value ratio is determined by the size of the mortgage and the amount of home appreciation so the timeframe will vary. However, to accelerate the process, most lenders offer the option to pay a single additional premium to have the private mortgage insurance removed at an earlier date.
Is there an online calculator for mortgage insurance from a Kettering mortgage insurance company?
Yes, if you are looking for an online calculator for mortgage insurance in Kettering, OH, we recommend MyLoanDetail.com. This online calculator provides a comprehensive overview of mortgage insurance costs specific to your situation and to your local market. MyLoanDetail enables you to accurately calculate the cost of mortgage insurance in Kettering by allowing you to input your home's price, your loan's term, and the expected loan-to-value ratio. Additionally, you can compare the cost through its comparison tools to get an understanding of the average mortgage insurance rate in your area.
Do I need mortgage insurance companies in Kettering?
Whether or not you need mortgage insurance depends on a number of factors, including the type of mortgage, the total loan amount, and your exact location. Here in Kettering, OH, the Federal Housing Administration requires all borrowers with an FHA loan and an LTV (Loan to Value) ratio above 90 % to pay for mortgage insurance as part of their monthly mortgage payments. If you don't have an FHA loan, the lender may require you to pay for mortgage insurance if you fail to meet certain criteria.
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