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 Lakes, AK
Your one-stop-shop to compare all the rates, all at once.
With PolicyHub you get:
Over 20 policy provider comparison.
Explore multiple Lakes, AK 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 Lakes, AK is an insurance policy designed to protect lenders from a borrower's default on home mortgages. It enables lenders to loan money to people without worrying about having to recoup their losses if the borrower does not pay back the loan. Mortgage insurance in Lakes is a requirement for all home loans exceeding 80% of the purchase price. It normally involves an additional premium paid with the mortgage principal and is usually required when the down payment on a mortgage exceeds 20%.
How does a larger down payment affect my Lakes mortgage insurance policy cost?
A larger down payment in Lakes, AK could certainly have a profound effect on your mortgage insurance cost. If you increase the size of your down payment by a considerable amount, it can save you substantially in interest over time, and significantly reduce the amount of mortgage insurance you will need to pay. This can be especially helpful in an area with inflated home prices like Lakes, AK, where a larger down payment could help you get a better monthly interest rate and keep your mortgage payments manageable.
What is a private mortgage insurance policy Lakes?
Private Mortgage Insurance (PMI) is an insurance policy that is a requirement of many loans for Lakes, AK homeowners. This insurance helps protect lenders from potential default due to nonpayment. PMI protects the lender should a borrower be unable to meet their mortgage payments. This insurance can also help borrowers to attain a loan with little or no down payment by offsetting the risk to the lender. PMI can be an attractive option to those with less than optimal credit, or who cannot provide a downpayment for a loan.
Who is eligible for FHA mortgage insurance near Lakes?
To be eligible for FHA mortgage insurance in Lakes, AK, applicants must: meet credit requirements, providing proof of a steady source of income, and make a down payment of 3.5%. Additional eligibility requirements include a maximum loan to value (LTV) of 97.75%, a total debt-to-income ratio of no more than 43%, and maximum income limits as stated by the Department of Housing and Urban Development (HUD). All borrowers with FHA-insured loans must also maintain mortgage insurance.
What are the benefits of USDA insurance from Lakes mortgage insurance companies?
In Lakes, AK, one of the benefits of getting a USDA mortgage insurance is access to lending programs at lower interest rates than are typically available for conventional loans. Additionally, there is no down payment required for properties in eligible rural areas, which can make it easier to purchase real estate. Another major advantage of this program is that borrowers are allowed to roll closing costs into the loan amount, making it convenient to cover all real estate sales expenses. USDA mortgage insurance can also help in implementing additional rural development initiatives and aid local communities.
Residents of Lakes, AK looking to purchase or refinance a home may want to consider taking out a VA loan to take advantage of the many benefits it offers. These include a lower interest rate and no down payment requirement, as well as no private mortgage insurance premiums, reduced or waived closing costs, and flexible loan terms. VA loans can also be used to buy a home, build a home, or make energy-efficient improvements to an existing one. Moreover, the VA does not have a minimum credit score required to apply, providing further peace of mind for potential applicants.
How much is mortgage insurance in Lakes?
Mortgage insurance costs vary depending on a variety of factors such as the location, loan type and amount, and credit score. In Lakes, AK, the average cost of mortgage insurance is about 0.15%-1.1% of the loan amount per year and can range up to 1.3%-3.5%, depending on the borrower's credit score. The cost of mortgage insurance is also charged as an up-front lump sum payment at the closing of the loan and will be included in the overall mortgage payment for the life of the loan.
What are the requirements to cancel my Lakes mortgage insurance policy?
In order to cancel your mortgage insurance in Lakes, AK, you must meet certain criteria. Generally, you must have at least 20% equity in your home that was not accrued through a structured refinance. To ensure cancellation is viable, you must also provide your mortgage insurer with a copy of your most recent mortgage statement, and they may require a new appraisal. In addition, combined loan-to-value (CLTV) ratios must be calculated to confirm accurate calculations of the mortgage insurance premium.
What factors are considered when calculating mortgage insurance for a Lakes mortgage insurance company?
When assessing mortgage insurance in Lakes, AK, lenders generally consider factors such as one's credit score, income, loan amount, down payment amount, loan-to-value ratio, debt-to-income ratio, and financial history. Additionally, some private mortgage insurers may also consider other financial factors such as employment stability, bank accounts, and savings. It's important to explore all of these criteria when budgeting for a mortgage in Lakes.
Do I need mortgage insurance companies in Lakes?
In Lakes, AK, mortgage insurance may be required by your lender depending on the size and type of your loan, but it is not required by any state or federal regulations. It is an additional form of loan protection, however, that can help cover a borrower's financial obligations if they are unable to pay their mortgage. It offers peace of mind for many families, especially in times of financial hardship, knowing that they are protected from the full weight of a loan. Ultimately, whether or not you need to pay for mortgage insurance in Lakes, AK is entirely up to you and your lender.
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