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Compare over 20 top providers in North Las Vegas, NV
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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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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.
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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...
Mortgage insurance in North Las Vegas, NV generally works to protect the lender in the event you, the borrower, default on the loan. Lenders will require that borrowers purchase mortgage insurance if the down payment is less than 20% of the purchase price of a home. Mortgage insurance can be either private or government-backed, with the latter having advantages such as lower interest rates, reduced down payments, no need to have a good credit score, and restrictions on the amount of the loan. Private mortgage insurance tends to be more expensive, but it can might lower your interest rate.
Does the cost of a North Las Vegas mortgage insurance policy depend on the size of my down payment?
In North Las Vegas, Nevada, the cost of mortgage insurance does depend on the size of your down payment. Generally, a larger down payment lowers the cost of mortgage insurance. The lender looks at the size of the down payment to determine the required mortgage insurance premium, which is a percentage of the loan amount. The smaller the down payment, the higher the mortgage insurance cost and the larger the down payment, the lower the cost. For example, if you make a 5% down payment, you might need to pay a higher insurance premium than if you had put 25% down.
What are the drawbacks of a private mortgage insurance policy North Las Vegas?
Private mortgage insurance (PMI) can be costly in North Las Vegas, NV. PMI is an added and potentially unnecessary expense when trying to secure a home loan. As a first-time homebuyer, or if you don't have enough for a standard down payment, PMI allows you to purchase a home by requiring you to purchase a specific amount and type of insurance.
How does FHA mortgage insurance near North Las Vegas work?
FHA mortgage insurance provides qualified home buyers in North Las Vegas, NV with the assistance to purchase a home with a down payment as low as 3.5%. This insurance protects the lender in case the borrower defaults on the loan. The insurance also gives access to lower interest rates, which makes it appealing for first-time home buyers. To obtain an FHA loan and insurance, the borrower has to meet basic requirements, such as having an acceptable credit score, having a steady income, and providing documentation of proof of assets.
What are the drawbacks of USDA insurance from North Las Vegas mortgage insurance companies?
In North Las Vegas, NV, the main drawbacks to USDA Mortgage Insurance are that USDA loan borrowers must meet both income-based eligibility requirements before they can qualify. In addition, the primary residence must be located within an eligible rural area. Another drawback is that USDA loans require an upfront mortgage insurance fee of 2.75% of the loan amount. This is a more significant upfront fee than many other loan types, and this fee must be paid regardless of the borrower’s credit or loan type.
Generally, veterans or active service members, spouses of veterans, and other qualified members of the military are eligible for a VA loan in North Las Vegas, NV. In order to determine full eligibility, a Certificate of Eligibility (COE) must be obtained from the U.S. Department of Veteran Affairs. Besides having a COE, veterans and military service members must also show strong credit and sufficient income to receive certain VA loan types. Additionally, co-borrowers may be used, though they must demonstrate the same qualifications and be approved by the VA and the lender.
What can I do to lower the cost of my mortgage insurance in North Las Vegas?
In North Las Vegas, NV, there are various ways to lower the cost of your mortgage insurance. Firstly, you could consider working with lenders that offer different mortgage insurance options with lower costs. Secondly, you could attempt to increase your down payment, as a larger down payment will allow you to pay less for mortgage insurance. Thirdly, you could also look into other loan options such as an FHA loan, a VA loan, or an adjustable-rate mortgage. Increasing your credit score, negotiating discounts, and shopping around for the best rates are also great strategies to reduce your mortgage insurance costs.
What are the requirements to cancel my North Las Vegas mortgage insurance policy?
To cancel your mortgage insurance in North Las Vegas, NV, you must first have an appraisal of your property completed by a qualified appraiser to provide proof that the current value of your home is equal to or greater than the current loan amount. The appraisal must be in accordance with the requirements of your lender or mortgage insurance provider, including documentation that the property is insured, flood-insured, and in compliance with local and state laws. Additionally, you will need to provide the current loan balance, mortgage payment history for the entire term, and proof that no late payments have occurred.
Can my North Las Vegas mortgage insurance company help me calculate my mortgage insurance cost?
Yes, your lender in North Las Vegas, NV should be able to help you calculate your mortgage insurance. They are likely knowledgeable in the local housing market and can provide you with valuable information about what kind of mortgage and mortgage insurance options are available for you. Be sure to inquire about whether the lender offers any special programs that may make it easier to calculate your mortgage insurance. This could include assistance with budgeting and any discounts they may offer. Additionally, they may have access to reliable resources and tools that can help you calculate your monthly payments and your mortgage insurance rate.
What happens if I don't use mortgage insurance companies in North Las Vegas?
If you don't purchase mortgage insurance in North Las Vegas, NV, you may not be able to access certain loan terms and rates, and you may not be approved for the loan. Depending on the lender, you may also be required to make a larger down payment. Additionally, if the home is foreclosed, your lender may not be able to recover all the money they loaned you without mortgage insurance. In some cases, they may have to cover the loss themselves. Ultimately, mortgage insurance helps protect both the lender and the buyer, making it an important consideration when evaluating a loan.
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