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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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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
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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...
In Lake Havasu City, AZ, there are two primary types of mortgage insurance. The first is private mortgage insurance (PMI), which is a type of insurance that is purchased by borrowers in order to cover losses if they default on their loan payments. For those purchasing a property with less than 20% down, lenders require the borrower to carry PMI. The second type of mortgage insurance is mortgage insurance premiums (MIP) which are required by certain government-insured lenders, such as the Federal Housing Administration (FHA).
Can I avoid a Lake Havasu City mortgage insurance policy with a larger down payment?
Yes, you can avoid mortgage insurance with a larger down payment in Lake Havasu City, AZ. Making a larger down payment on your property can increase your chances of securing a loan and help you save money over time. With a larger down payment, your monthly payments likely will be lower than if you made a smaller down payment, helping you to save on closing costs and avoiding the cost of mortgage insurance. The latest real estate market in Lake Havasu City, AZ is also making properties more cost-effective—increasing your buying power and allowing you to make larger down payments.
What are the benefits of having a private mortgage insurance policy Lake Havasu City?
Residents of Lake Havasu City, AZ who are looking to purchase a home may find that a private mortgage insurance (PMI) policy can be beneficial. By having this insurance, borrowers are able to make a lower down payment than normal, allowing them to purchase a home sooner than they otherwise would. In addition, PMI can protect the lender if the borrower defaults and can also provide the borrower a shortened repayment period of their loan in certain cases.
What is FHA mortgage insurance near Lake Havasu City?
FHA mortgage insurance is a type of insurance homebuyers in Lake Havasu City, Arizona pay to ensure that their mortgage is secure. This type of insurance lowers the risk for lenders, making it easier for them to provide home loans with more favorable terms. The insurance premium is usually added to the monthly mortgage payment and lasts for the life of the loan. FHA mortgage insurance helps protect both borrowers and lenders from the risks associated with long term mortgage obligations. It can also enable borrowers to obtain a mortgage even if they have a lower credit score.
How do Lake Havasu City mortgage insurance companies process USDA insurance?
USDA mortgage insurance works by providing borrowers in rural areas of the United States, such as Lake Havasu City, Arizona, with an opportunity to secure a mortgage loan with no down payment. Mortgage insurance from the United States Department of Agriculture helps lenders reduce their risk by guaranteeing the loan in the event of a borrower default. This allows rural homebuyers to qualify for competitively priced mortgage products with terms and conditions that are typically more favorable than other loan products available in rural areas. USDA mortgage insurance helps rural borrowers to purchase or refinance a home, invest in a property, or make home improvements.
The VA Funding Fee is a charge that a veteran pays on VA loans. In Lake Havasu City, AZ that fee is currently 2.3% for a non-refundable fee for most veterans. Some veterans may be exempt from paying this fee, such as those receiving disability related compensation from the VA or are considered to have a service-connected disability at the time of their loan closing.
What factors influence the cost of mortgage insurance in Lake Havasu City?
Factors that influence the cost of mortgage insurance in Lake Havasu City, AZ can vary depending on the type of mortgage you choose as well as the market conditions in the area. For example, a fixed-rate mortgage may require less insurance than an adjustable rate loan. Additionally, current financing rates in the city can also affect mortgage insurance costs. Homeowners will need to consider the investment risk they are comfortable taking on to determine which type of mortgage best suits their needs.
When does a Lake Havasu City mortgage insurance policy go away?
Generally speaking, mortgage insurance in Lake Havasu City, AZ, will go away once the homeowner has paid down their loan balance to a certain percentage of the original purchase price. For FHA loans, once the balance reaches 78%, the insurance requirement is automatically dropped. With a conventional loan, insurance payments might be required for as long as 11 years, regardless of the loan balance. To reduce your insurance payments, one option would be to look into refinancing. Depending on the rate you qualify for, refinancing could potentially reduce your payments and provide financial relief.
Can my Lake Havasu City mortgage insurance company help me calculate my mortgage insurance cost?
Absolutely! If you are looking to purchase a property in Lake Havasu City, AZ, your lender can help you calculate your mortgage insurance, also known as Private Mortgage Insurance (PMI). PMI is an extra fee charged by the lender when your down payment on a property is less than 20 percent of its total appraised value. It is beneficial to calculate your mortgage insurance as it can help you save money on your loan and make more informed decisions about your mortgage payments.
Do I need mortgage insurance companies in Lake Havasu City?
Generally speaking, mortgage insurance is not required in Lake Havasu City, AZ. However, depending on the amount and type of loan, the lender may require borrowers to pay mortgage insurance premium payments. If you are taking out a loan for an amount that is higher than 80-90% of the home's value, you may be required to pay mortgage insurance. Additionally, if your credit score is below the lender's requirements, they may also require mortgage insurance payments.
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