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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 Olivehurst, CA, mortgage insurance comes in two main varieties Private Mortgage Insurance (PMI) and Mortgage Insurance Premiums (MIPs). PMI is typically required when homebuyers make a down payment of less than 20% of the home's value, and it generally covers any losses if the borrower defaults on their loan. MIPs are most often required on FHA loans and they protect the lender in case of default.
Does the cost of a Olivehurst mortgage insurance policy depend on the size of my down payment?
In Olivehurst, California, the cost of mortgage insurance does often depend on the size of your down payment. Generally speaking, the larger the down payment you are able to make, the lower the total cost of your mortgage insurance can be. In some cases, by making a down payment of 20% or higher, you may be able to avoid additional mortgage insurance fees all together. However, itβs important to keep in mind that your overall mortgage payment can be affected by your down payment, even if you need to pay for mortgage insurance.
Who is eligible for a private mortgage insurance policy Olivehurst?
Homebuyers of any financial background who are purchasing a property in Olivehurst, CA may be eligible for private mortgage insurance (PMI). In order to determine eligibility, individuals or couples seeking a mortgage should contact their mortgage lender who can assess the buyer's financial stability and credit score. That said, even individuals and couples with bad credit may still be eligible for PMI. Additionally, those who are considered lower-income by the lender may be eligible for government-sponsored PMI programs, such as through Fannie Mae or Freddie Mac.
Who is eligible for FHA mortgage insurance near Olivehurst?
Anyone who meets the eligibility requirements for a loan insured by the Federal Housing Administration (FHA) in Olivehurst, CA can obtain FHA mortgage insurance. The requirements involve credit score, income and employment history, and other factors. It is best to speak to a lender to determine if you are eligible for FHA mortgage insurance.
Do Olivehurst mortgage insurance companies offer USDA insurance?
USDA Mortgage Insurance aids rural homebuyers in Olivehurst, CA by guaranteeing loans issued by private lenders. This enables homebuyers who financially qualify to purchase a home with no down payment. The insurance fee helps to also offset the costs associated with issuing the loan and the reduced-interest rate homebuyers receive with this program. The program is tailored to meet the needs of those homebuyers who might not otherwise be able to afford a home and is backed by the US Department of Agriculture Rural Development Office.
For potential homebuyers in Olivehurst, CA, there are some potential drawbacks to a VA Loan to consider. As VA Loans are guaranteed by the US Department of Veterans Affairs, the VA charges a funding fee. This fee is typically 1.25% of the loan amount in Olivehurst and can often be financed into the total loan amount. Also, in some cases, certain sellers may not want to accept VA loans due to the unique understanding of their rules. Another drawback to consider is the limited number of lenders who typically offer VA loans which can result in higher closing costs and higher loan fees.
Can I negotiate the cost of my mortgage insurance in Olivehurst?
While mortgage insurance costs vary from lender to lender, you may be able to negotiate the cost of mortgage insurance with your mortgage lender in Olivehurst, CA. Every lender has its own mortgage insurance policies, which can often involve fees and monthly payments, but in most cases, lenders are willing to negotiate. Be sure to shop around to compare the costs and policies of different lenders in the area to ensure you are getting the best deal.
What are the requirements to cancel my Olivehurst mortgage insurance policy?
If you live in Olivehurst, CA and are looking to cancel your mortgage insurance, there are a few eligibility requirements you'll need to meet. To cancel mortgage insurance, you must have at least 20% equity in the home or have your loan balance drop to 80 percent of the home's original value. You must also stay current on your payments and not have a delinquency of 30 days or more in the previous 12 months. Additionally, you must not have an active bankruptcy. Once all these requirements are met, you are eligible to file an official cancellation request with your lender.
Can my Olivehurst mortgage insurance company help me calculate my mortgage insurance cost?
Yes, your lender in Olivehurst, CA can help you compute your mortgage insurance. Your lender has the resources available to you to analyze the full cost of a loan, including all the associated fees. Mortgage insurance premiums are calculated on a sliding scale based on your credit rating so it's important to understand what you might be paying over the term of the loan. Your lender will be able to review current market rates, review your credit score, and calculate exactly how much of a mortgage insurance premium may be charged.
Who is required to use mortgage insurance companies in Olivehurst?
In Olivehurst, CA, anyone taking out a mortgage who is borrowing more than 80 percent of the home's value is required to have mortgage insurance. This includes those buying a home with less than a 20% down payment, borrowers refinancing their mortgages with more than 80% loan-to-value ratio, and those taking out a home improvement loan or second mortgage with more than a 80% loan-to-value ratio.
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