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 Moses Lake, WA
Your one-stop-shop to compare all the rates, all at once.
With PolicyHub you get:
Over 20 policy provider comparison.
Explore multiple Moses Lake, WA 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...
In Moses Lake, WA there are two main types of mortgage insurance: private mortgage insurance (PMI) and Federal Housing Administration (FHA) mortgage insurance. PMI is financial protection for mortgage lenders against potential losses in the event of default by a homeowner. It is paid to the lender by the homeowner and is often required when the homeowner has less than 20% of the purchase price as a down payment. FHA mortgage insurance protects lenders from losses caused by borrower default, and is typically required for buyers who have lower credit scores or put less than 20% down.
How does a larger down payment affect my Moses Lake mortgage insurance policy cost?
Making a larger down payment on a mortgage loan in Moses Lake, WA, can reduce the amount of monthly mortgage installation payments. However, it will also lower the amount that the lender is willing to finance, reducing the total interest expense. A larger down payment can lower mortgage insurance costs, since it reduces the amount available for the borrower to finance. Borrowers with higher down payments may also qualify for more favorable interest rates, which may help to further reduce their monthly payments. In addition, lenders may require a private mortgage insurance (PMI) policy for borrowers who put less than 20% down.
What are the benefits of having a private mortgage insurance policy Moses Lake?
Private mortgage insurance (PMI) provides benefits to homeowners in Moses Lake, WA by protecting the lender in the event of default on the loan. This can lower rates, allowing buyers to purchase more home for the same monthly payment and helping reduce the amount of the down payment. In addition, PMI can help home buyers that lack a large down payment, allowing them to qualify for a loan. PMI could also allow you to pay off the loan sooner. If you are able to pay more toward the principle, you could reduce the loan term or increase your equity quicker.
What are the benefits of FHA mortgage insurance near Moses Lake?
FHA mortgage insurance offers a number of benefits to buyers in Moses Lake, WA. It allows qualified buyers to purchase a home with a down payment as low as 3.5%, while conventional loan down payments are often 5-20%. This can provide buyers with considerable savings, especially in a competitive real estate market. In addition, FHA mortgage insurance provides flexible credit qualifications, meaning a lower credit score may not automatically disqualify applicants. Finally, FHA loans require a lower level of mortgage insurance than conventional loans, and mortgage insurance can be canceled once certain conditions are met.
What are the drawbacks of USDA insurance from Moses Lake mortgage insurance companies?
Despite the many benefits USDA mortgages provide homebuyers in Moses Lake, WA, the insurance can come with some drawbacks. The USDA requires borrowers to pay an annual fee, between 0.3 and 1%, of their loan balance to cover the cost of mortgage insurance. Furthermore, USDA mortgage insurance is not found throughout the same geographic area as other loans, potentially limiting the home buying choices available in some areas. Additionally, USDA mortgage insurance borrows can have difficulty earning loan forgiveness as their debt-to-income ratio must be less than 45%.
In Moses Lake, WA, veterans and military personnel who meet the eligibility requirements are eligible for a VA loan. These requirements normally include a stable, reliable income and satisfactory credit history. Depending on the loan, additional qualifiers may also apply, such as length of service, adequate collateral, or specific compensation requirements. Investors of a VA loan typically require that a veteran has the ability to repay the loan and is of acceptable character. Moreover, they could also ask for proof of military service. Ultimately, the criteria for eligibility will vary from lender to lender.
Can I negotiate the cost of my mortgage insurance in Moses Lake?
Negotiating the cost of your mortgage insurance in Moses Lake, WA is possible. Speak with your mortgage lender or insurance provider to discuss possible options. Many providers offer flexible premiums and different coverage levels that may be beneficial to individual customers. Every mortgage, borrower, and situation is different and having knowledgeable professionals examine your circumstances could make a difference in the cost of mortgage insurance you pay. Additionally, it may be helpful to research the mortgage insurance marketplace in Moses Lake to compare rates and services offered by different providers.
Can I cancel my Moses Lake mortgage insurance policy early?
Yes, you can cancel your mortgage insurance in Moses Lake, WA, whenever you are able to do so. Depending on the terms of your loan contract and mortgage insurance policy, you may be able to cancel your policy after your balance on the loan is reduced to 80% or less of the original loan amount. You should contact your lender and request to cancel your policy early in order to determine if you qualify.
Is the mortgage insurance calculation method the same for every Moses Lake mortgage insurance company?
The mortgage insurance calculation method may vary between lenders in Moses Lake, WA. Lender requirements and policies vary from one to the other, so it is important to compare the different mortgage insurance calculation methods offered by different lenders in the area. It is recommended to discuss questions about mortgage insurance with a trusted mortgage specialist in order to determine the best method for your individual situation. Ultimately, the choice of mortgage insurance calculation method depends on what best fits the requirements and goals of each borrower.
Can I opt out of services from mortgage insurance companies in Moses Lake?
In Moses Lake, WA, it is possible to opt out of mortgage insurance, depending on the specifics of your loan and your current financial circumstances. Many lenders in the area may accept proof of a 20% down payment on the loan, or that the home is designated owner-occupied, as sufficient grounds to opt out of mortgage insurance. It is important to contact the lender associated with your loan to ask what specific requirements they have in order to opt out of mortgage insurance.
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