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 Mission Viejo, CA
Your one-stop-shop to compare all the rates, all at once.
With PolicyHub you get:
Over 20 policy provider comparison.
Explore multiple Mission Viejo, CA 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 can be a great tool for homeowners in Mission Viejo, CA, to help protect their financial wellbeing. Mortgage insurance can act as a safeguard offering coverage in the event of death, disability, or job loss, helping to ensure that your mortgage payments can still be made. It can also help reduce your down payment requirement if you're unable to put down the standard 20%. Mortgage insurance can also help reduce costs if you're refinancing or taking out a new loan. Talk to your local financial advisor today to find out more about if mortgage insurance is the right fit for you.
Can I avoid a Mission Viejo mortgage insurance policy with a larger down payment?
Yes, you can usually avoid mortgage insurance with a larger down payment in Mission Viejo, CA. Generally, if you make a down payment of 20% or more of the home's purchase price, you can avoid the additional cost of mortgage insurance. Additionally, in Mission Viejo, mortgage lenders often have exclusive mortgage programs that can provide reduced or waived mortgage insurance, based on other financial qualifications. If you don't have enough to pay down 20%, lenders have different options available to help you cover the added cost of mortgage insurance and still make a purchase that fits your budget.
Who is eligible for a private mortgage insurance policy Mission Viejo?
In Mission Viejo, CA, individuals seeking private mortgage insurance must meet the criteria stipulated by their lender. Typically, mortgage insurance is available for borrowers who cannot put down at least 20% of the purchase price of a property. It is common in Mission Viejo and other cities to require good credit and longer loan-term lengths for lenders to consider approving a borrower for private mortgage insurance. Depending on the lender, additional criteria may be required such as age, financial stability, and occupancy history. In general, the eligibility requirements for private mortgage insurance are determined on a case-by-case basis.
How does FHA mortgage insurance near Mission Viejo work?
FHA mortgage insurance in Mission Viejo, CA works by requiring a borrower to pay a fee at the closing of their loan. This fee is typically 1.75% of the loan amount and is considered mortgage insurance. The purpose of this insurance is to help protect lenders, as the insurance provides them with much greater loan security than a conventional loan would. The insurance also ensures that funds are available to repay the loan should the borrower fail to make their monthly payments.
What are the drawbacks of USDA insurance from Mission Viejo mortgage insurance companies?
When considering a USDA mortgage insurance in Mission Viejo, CA, it is important to be aware of certain drawbacks. One such downside is an upfront fee for the USDA mortgage insurance premium which can be between 1.25-3.3% of the loan depending on the term of the loan, the amount of the loan and the down payment. This fee must be paid at the closing of the loan. Additionally, USDA loans are restricted to those purchasing a home in an eligible rural area; so this may limit your options if you want to purchase a home in the city.
The VA Funding Fee in Mission Viejo, CA is calculated based on factors like the veteran's service, loan type, loan amount, and down payment amount. Generally speaking, the amount of the funding fee is equal to 1.4 to 3.6 percent of the mortgage loan amount, depending on the Veteran's status. However, this can be reduced in some cases, such as a disability or if the Veteran is making a down payment of at least 5 percent.
What factors influence the cost of mortgage insurance in Mission Viejo?
In Mission Viejo, CA, the cost of mortgage insurance can be influenced by multiple factors. Mortgage insurance is typically calculated taking into consideration the home’s loan amount, the loan-to-value ratio, the borrower’s loan term, credit history, and the amount of coverage for the loan. The current interest rate for mortgage insurance can also affect its cost in Mission Viejo, CA. Additionally, mortgage insurance may be discounted according to the type of mortgage loan and the amount of coverage purchased.
When does a Mission Viejo mortgage insurance policy go away?
In Mission Viejo, California, mortgage insurance typically goes away when you pay off your loan or when the mortgage balance reaches 78% of the purchase price of the property. For example, if you bought your home for $500,000, the mortgage balance would need to be around $390,000 for the mortgage insurance to vanish. Alternatively, if you refinanced the loan after many years, the mortgage balance may have fallen enough to eliminate the mortgage insurance.
What factors are considered when calculating mortgage insurance for a Mission Viejo mortgage insurance company?
When calculating mortgage insurance in Mission Viejo, CA, there are various factors that must be taken into consideration. These include the market value of the property, existing loan amount, credit score, and cash available for a down payment. The monthly mortgage insurance premium (MIP) is based on factors such as the loan-to-value (LTV) ratio, loan term, and type of loan. In addition, the type of property (single-family, condo, etc.) and the location of the property (in an urban area, rural area, etc.
Are there alternatives to mortgage insurance companies in Mission Viejo?
In Mission Viejo, CA homeowners have various alternatives to mortgage insurance. Many lenders offer their own mortgage insurance program which can provide protection and coverage for homeowners in the event of a financial hardship. Additionally, many mortgage companies offer private mortgage insurance, which is often less expensive than traditional mortgage insurance and provides coverage for the life of the loan. Homeowners can also consider borrower-paid mortgage insurance, which allows them to pay for their own coverage over the life of the loan or on a yearly, monthly or quarterly basis.
Other locations near Mission Viejo, CA
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