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 Palm Bay, FL
Your one-stop-shop to compare all the rates, all at once.
With PolicyHub you get:
Over 20 policy provider comparison.
Explore multiple Palm Bay, FL 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...
Choosing the right mortgage insurance policy for your Palm Bay, FL home can be a daunting task. To make the process easier, reach out to a local independent insurance agent who understands the needs of homeowners in the area. They can help explain the different types of mortgage insurance policies available, advise you on what coverage fits your specific needs, and help you compare policies from a variety of insurance providers. Working with a professional can ensure you select the right coverage to protect your home and your family.
What is the minimum down payment to avoid a Palm Bay mortgage insurance policy?
In Palm Bay, FL the minimum down payment required to avoid mortgage insurance typically varies from lender to lender. Generally, the amount can range from 5 to 20 percent of the total mortgage loan. It's important to check with your lender to understand what the exact rate is for your situation. Additionally, it's a good idea to research different types of loan and payment programs to make sure you're getting the best available rate that fits your needs.
Who is eligible for a private mortgage insurance policy Palm Bay?
In Palm Bay, FL, a borrower is typically eligible to receive private mortgage insurance if their down payment is less than 20%. Private mortgage insurance is insurance that protects the lender in the event of borrower default, and is a requirement on mortgages with down payments less than 20%. The private mortgage insurance rates also vary based on loan-to-value (LTV) ratio, credit score, and other factors. In general, the higher the credit score and lower the loan-to-value ratio, the lower the cost for private mortgage insurance.
What are the drawbacks of FHA mortgage insurance near Palm Bay?
FHA mortgage insurance can be expensive in Palm Bay, FL, as the premiums are 1.75% of the loan amount upfront and typically 0.85% of the loan amount annually. Additionally, there are restrictions placed on a borrower's eligibility for FHA mortgages. Individuals/households must meet certain income requirements and debt-to-income ratios, as well as have a minimum credit score. There are also limits on how much a borrower can borrow.
What are the benefits of USDA insurance from Palm Bay mortgage insurance companies?
Residents of Palm Bay, FL may enjoy the unique benefits of USDA mortgage insurance. This type of home loan can help low-income and moderate-income individuals purchase a home in a rural part of the United States. USDA mortgage insurance offers several advantages such as no down payment required, lower than average closing costs, and 100% financing. Additionally, those who qualify can get valuable benefits like the guarantee of mortgage repayment and access to 30-year fixed-rate loans with low interest rates. All of these benefits can enable more families to afford the dream of homeownership in Palm Bay, FL.
A VA loan in Palm Bay, FL could come with a few drawbacks; primarily, the VA loan limits may be lower than a more traditional loan, meaning that you could have access to fewer funds. Additionally, VA loans require a funding fee of up to 3.3% of the loan amount, while traditional loans may have lower fees. Lastly, unlike a traditional loan, a VA loan in Palm Bay, FL could come with additional closing costs and longer times for closing that a traditional loan may not entail.
Are there discounts available for mortgage insurance in Palm Bay?
Yes, residents of Palm Bay, FL may be eligible for discounts on their mortgage insurance premium. Purchasing a home is one of the biggest investments you will ever make, and it's important to protect that investment. Mortgage insurance, which is also called PMI (private mortgage insurance), can provide you with financial security and peace of mind. Many lenders work with insurance companies to offer discounts on your mortgage insurance premium if you meet certain criteria, such as maintaining a good credit history. To find out if you qualify for a discount on your mortgage insurance premium, speak to your lender and insurance provider.
When does a Palm Bay mortgage insurance policy go away?
Mortgages in Palm Bay, FL may have mortgage insurance that will go away at different times, depending on the type of loan you have. Generally, if you have a government-backed FHA or VA loan, the mortgage insurance will go away when the loan balance is paid down to 78% of the purchase price of the home.
What factors are considered when calculating mortgage insurance for a Palm Bay mortgage insurance company?
When calculating mortgage insurance in the Palm Bay, FL area, there are a number of factors to consider including property location, loan amount, loan to value ratio, home size, and occupancy type. Your credit profile, down payment, and any state or local bond programs are also taken into account due to their potential impact on the loan amount and loan to value ratio. In addition, the specific mortgage insurance products offered by the lender may impact overall cost, so before committing to a particular mortgage insurance program it is important to compare and understand the various features involved.
What happens if I don't use mortgage insurance companies in Palm Bay?
If you don't have mortgage insurance in Palm Bay, FL, you would be much more exposed to risk in the case of a premature default. Without it, financial losses for the lender could be substantial and mortgage repayment cannot be guaranteed. On the other hand, if you do have mortgage insurance, the insurer will assume potential losses if the borrower defaults, allowing lenders to be more confident about lending to customers with less than perfect credit or other risks.
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