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 Owensboro, KY
Your one-stop-shop to compare all the rates, all at once.
With PolicyHub you get:
Over 20 policy provider comparison.
Explore multiple Owensboro, KY 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 in Owensboro, KY helps protect lenders from financial loss if a borrower defaults on their loan. It's important to know that private mortgage insurance (PMI) is needed if a borrower has less than 20% equity in the home. If a borrower is unable to maintain their loan payments, mortgage insurance will help the lender recover their money. In the case of Owensboro, lenders may require borrowers to obtain mortgage insurance if they are buying a home that is in a higher-risk area.
Can I avoid a Owensboro mortgage insurance policy with a larger down payment?
In Owensboro, KY, by making a larger down payment on your mortgage loan, you may avoid having to pay for mortgage insurance. Lender mortgage insurance is typically requested when a borrower has an overall loan-to-value ratio of 80% or more. Therefore, if you are able to increase your down payment, you may be able to eliminate the need for paying for this type of insurance.
Who is eligible for a private mortgage insurance policy Owensboro?
In Owensboro, KY, private mortgage insurance is available to borrowers whose loan-to-value (LTV) ratio is greater than 80% and have the desire and financial means to purchase a primary residence. Generally, the borrower pays for this insurance, which provides lenders with a type of guarantee that the mortgage will be paid even if the borrower defaults. Private mortgage insurance may also be eventually canceled or removed when the borrower's loan balance reaches 78% of the home's purchase price, or once the borrower has established certain financial conditions.
What are the drawbacks of FHA mortgage insurance near Owensboro?
In Owensboro, KY, the biggest drawback of an FHA mortgage insurance is the cost. Borrowers must pay an upfront mortgage insurance premium, as well as an annual premium, which can be costly. Additionally, FHA loans require both buyers and sellers to pay for the appraisal, and the cost of closing costs is often higher than for conventional mortgages. The maximum loan amount for FHA loans in Kentucky is $314,827, with higher borrowing limits allowed in certain counties.
Do Owensboro mortgage insurance companies offer USDA insurance?
USDA mortgage insurance in Owensboro, KY is a form of government-backed insurance offered through the United States Department of Agriculture that helps to protect homebuyers from defaults on their mortgage payments. By obtaining mortgage insurance, borrowers in Owensboro are able to purchase homes with flexible loan terms and lower down payment requirements. The funds from mortgage insurance help lenders to reduce their risks in lending to those who may have financial difficulties, and allows homebuyers with not perfect credit to achieve homeownership. These advantages make USDA mortgage insurance an attractive option for those looking to purchase a home in Owensboro, KY.
The VA funding fee in Owensboro, KY represent very important costs for veterans using their VA home loan benefits. The fee is a form of insurance, designed to partially protect taxpayers from the cost of default should veterans choose to purchase a home via VA loan. The exact rate will vary, however, essentially teams of 1.4%, 2.3%, or 3.3% of the loan will be due when the loan closes. This sum is usually rolled into the loan so veterans wonβt actually have to pay it out of pocket at that very moment.
Can I negotiate the cost of my mortgage insurance in Owensboro?
Negotiating the cost of your mortgage insurance in Owensboro, KY is certainly a possibility. It is best to speak to a local mortgage lender in the area to learn about your options. Depending on the lender, they may or may not allow you to negotiate the cost, but it never hurts to ask. It could be beneficial to shop around to compare different lenders and their rates. Additionally, you should make sure to closely review all paperwork before committing to any mortgage insurance plan.
Does the mortgage insurance termination process vary by Owensboro mortgage insurance policy?
Yes, the mortgage insurance termination process does vary by lender. In Owensboro, KY, it's important to understand which lenders offer the best benefits for your particular situation. It's necessary to research whether the lender requires private mortgage insurance (PMI) or borrower-paid mortgage insurance (BPMI) and if they have a streamlined process to remove it. It's also beneficial to learn about the requirements needed to eliminate PMI and BPMI, such as a specific amount of payments that must be made on the loan or a set amount of equity that needs to be achieved.
What factors are considered when calculating mortgage insurance for a Owensboro mortgage insurance company?
When determining what factors are used to calculate mortgage insurance in Owensboro, KY, there are two main components: loan-to-value (LTV) ratio and your credit score. Your LTV ratio helps determine the amount of money you need to put down when buying a home. Lenders will use your credit score to determine how likely you are to make their loan back and whether or not they approve you for financing. In addition to the two main factors, other criteria such as your income, employment history, and assets can also be considered when calculating mortgage insurance.
Are there alternatives to mortgage insurance companies in Owensboro?
In Owensboro, KY, there are various alternatives to mortgage insurance. One such alternative is lender-paid mortgage insurance. This option is less expensive up front to the borrower, as they do not have to cover the cost of the initial mortgage insurance premium. Private mortgage insurance (PMI) is also an option which is available to many borrowers and whose cost is typically paid in monthly installments. Furthermore, some government loans provide an option to cover insurance costs without any money down.
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