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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 New Smyrna Beach, FL mortgage insurance safeguards borrowers from unexpected financial hardship and loss. It's Mortgage protection insurance designed to help keep homeowners afloat in the face of an income-threatening situation such as unemployment or death. Should the worst happen, the mortgage insurance company can make payments on the loan, helping to not only keep the finances in order but those who depend on the borrower safe from homelessness.
What is the minimum down payment to avoid a New Smyrna Beach mortgage insurance policy?
In New Smyrna Beach, Florida, the minimum down payment to avoid mortgage insurance typically starts at 5% of the purchase price. There are certain loan types, such as VA loans, USDA loans, and FHA loans, which may have lower down payments but require that mortgage insurance is included in the loan. It is best to discuss exactly what the down payment requires with your lender as they are most familiar with the current trends for mortgages in New Smyrna Beach, Florida.
Do I need a private mortgage insurance policy New Smyrna Beach?
In New Smyrna Beach, FL, private mortgage insurance, or PMI, may be required in certain situations. Depending on factors such as the size of the down payment, the type of loan you are taking, and your creditworthiness, you may need to purchase PMI in order to obtain a mortgage. It is best to talk to your loan officer to understand all the requirements in your particular situation. PMI can add to your monthly expense and also to the overall cost of the mortgage, but it may make homeownership possible in certain circumstances.
What are the drawbacks of FHA mortgage insurance near New Smyrna Beach?
One of the drawbacks of an FHA mortgage insurance policy in New Smyrna Beach, FL, is that borrowers are required to pay an upfront mortgage insurance premium (UFMIP). This lump-sum payment must be paid at closing and it is typically equal to 1.75 percent of the mortgage amount. Additionally, borrowers must also pay an annual mortgage insurance premium (MIP), which is usually 0.45 to 1.05 percent of the loan amount depending on the terms of the loan. This premium is paid monthly as part of the regular mortgage bill.
Who is eligible for USDA insurance from New Smyrna Beach mortgage insurance companies?
Eligibility for USDA mortgage insurance in New Smyrna Beach, FL is determined primarily by income level and the type of property. Generally, those whose incomes are below the area median income and who are purchasing a single-family home are eligible since this type of property is guaranteed by the US Department of Agriculture. Certain other factors may also affect your eligibility, such as whether you’re a first-time home buyer, the amount of debt you have, and the number of dependents you have.
Veterans, active duty military personnel, and their families are all eligible for VA loans in New Smyrna Beach, Florida. To be eligible, you must have met the minimum length of time in service or, in some cases, have received an honorable or general discharge. Those who already have a VA loan may also qualify for a VA refinancing loan, commonly referred to as a VA Streamline Refinance. Additionally, all branches of the US military—Army, Navy, Marine Corps, Coast Guard, and Air Force—qualify for this loan program.
Are there discounts available for mortgage insurance in New Smyrna Beach?
Yes! In New Smyrna Beach, FL, there is a variety of discounts available for mortgage insurance. Depending on the type of mortgage insurance, discounts are offered for those who may have preexisting home protection and/or using a preferred lender, a real estate agent, or an installer. The amount of discount varies, so it is important to inquire with your real estate agent or mortgage broker to see what type of discounts may be available.
What process do I need to follow to cancel my New Smyrna Beach mortgage insurance policy?
To cancel your mortgage insurance in New Smyrna Beach, FL, you need to contact your lender to request termination of the mortgage insurance in writing. Be sure to include your loan number and other relevant information in the request. Your lender will review your loan to make sure you have at least 20% equity in your home and no more than one late payment in the last 12 months. If you meet those criteria, your lender can contact your mortgage insurance provider to cancel the coverage.
Is there an online calculator for mortgage insurance from a New Smyrna Beach mortgage insurance company?
Yes, there is an online calculator for mortgage insurance in New Smyrna Beach, FL. To get started, you just have to input your home's purchase price, down payment, loan term, and interest rate into the calculator. Once you've done that, you'll be able to see how much you'll be paying each month in mortgage insurance, as well as the current rates available in the area. Plus, many companies in the area offer helpful tools such as comparisons of the various mortgage insurance products offered in the area.
Do I need mortgage insurance companies in New Smyrna Beach?
Whether or not you need mortgage insurance depends on a variety of factors. In New Smyrna Beach, Florida, if you put down less than a 20 percent down payment, you are usually required to obtain private mortgage insurance from the lender. This insures the lender against potential losses if you cannot make the payments. If your down payment is 20 percent or higher, you may still need to obtain other types of insurance, such as hazard insurance, depending on your lender's requirements. It's best to contact a local mortgage lender to determine what type of insurance will be required in your situation.
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