Taking too long? Close loading screen.
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 Payson, AZ
Your one-stop-shop to compare all the rates, all at once.
With PolicyHub you get:
Over 20 policy provider comparison.
Explore multiple Payson, AZ 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 situation in Payson, AZ can feel overwhelming. Make the process easier by starting it off by thinking of your specific needs and budget. Consider the size of the loan and downpayment, and then determine if you want a conventional loan or a government-backed loan. A comparison of different companies' coverage limits, fees, and discounts can help you decide on a policy that is best for you. Shopping around and gathering quotes will allow you to compare costs and find the best balance of coverage and cost for your unique situation.
What is the minimum down payment to avoid a Payson mortgage insurance policy?
In Payson, AZ, the minimum down payment to avoid mortgage insurance will depend on the loan program chosen by the borrower. For an FHA loan, the minimum down payment is typically 3.5%. For a conventional loan, it may be as low as 3%, or even 0% for certain eligible veterans. For a USDA loan, it is 0%. Additionally, some lenders may require a higher down payment, which could be up to 20% depending on the specific loan program.
What are the drawbacks of a private mortgage insurance policy Payson?
In Payson, AZ, the drawbacks of private mortgage insurance include the cost. You’ll be required to pay a premium added to your monthly mortgage payment, which could significantly increase the total amount due. Additionally, the mortgage insurance may not be cancelled, even after your principal balance has reached the 80% threshold, leaving you with longer premiums to pay. You may also be denied a home loan if you don’t have a large enough down payment, as private mortgage insurance is typically required with less than 20% down.
How does FHA mortgage insurance near Payson work?
FHA mortgage insurance in Payson, AZ works by requiring borrowers to pay a one-time upfront premium at closing, as well as an annual premium that is included in their monthly payment. Upfront fees are often 2.25% of the loan amount and the annual premiums are based on the total loan amount and the length of the loan. These premiums provide the lender with protection if borrowers default on their loan. The premiums also help to support the FHA program and ensure that lenders are able to offer competitive interest rates.
Who is eligible for USDA insurance from Payson mortgage insurance companies?
In Payson, AZ, anyone looking to purchase a single-family residence who meets the income eligibility requirements set forth by the USDA Rural Development program is eligible for USDA mortgage insurance. Specific criteria such as income limits, credit history requirements, and other factors must be met in order to qualify, and the USDA Rural Development office in Arizona, located in Phoenix, can provide information about these local eligibility guidelines. Additionally, the residency requirements of the USDA program must be met in order for a person to take out a loan backed by the USDA.
VA loans provide Payson veterans and their families with exclusive access to government-sponsored and financed home loans. With a VA loan, Payson veterans get the low financing and competitive interest rates that a standard loan cannot offer, as well as the waiver of the minimum down payment and many of the associated closing costs. Furthermore, VA loans are well suited for Payson's unique real estate market, as they are secured by the U.S. Department of Veterans Affairs and eligible for up to 100% financing.
What can I do to lower the cost of my mortgage insurance in Payson?
Shopping around for your mortgage insurance in Payson, AZ is a great way to start lowering the cost of coverage. You can compare different insurance policies, premium rates, coverage limits, and other factors to find the best deal. Additionally, many lenders will consider changing your policy based on your credit history, down payment, loan length, or other factors. Ask your lender how you can change or adjust your policy and save on insurance costs without sacrificing coverage.
Does the mortgage insurance termination process vary by Payson mortgage insurance policy?
In Payson, AZ, the mortgage insurance termination process does vary by lender. Generally, lenders require that the borrower have a certain number of consecutive payments made before the mortgage insurance can be formally terminated. In Arizona, the homeowner must have made sixty consecutive payments, or five years, depending on the lender, while paying the mortgage insurance premium. Depending on the lender, additional criteria may apply in terms of the total principal balance, credit score and payment history. It's important to consult with your mortgage lender directly to determine exactly what is needed to satisfy their requirements for mortgage insurance termination.
Is there an online calculator for mortgage insurance from a Payson mortgage insurance company?
At Payson, AZ, our team of experienced mortgage professionals can help you calculate your mortgage insurance. We offer an online calculator that is easy to use and gives you accurate results that can help you determine the amount of mortgage insurance you may need. Our calculator walks you through the necessary information such as the loan amount, your annual income, and your desired length of credit. With the data it collects, it can estimate your monthly payments and the total amount of mortgage insurance you should purchase.
Do I need mortgage insurance companies in Payson?
Mortgage insurance in Payson, AZ is not a requirement as of 2021. While a lender may require a borrower to pay for mortgage insurance on some circumstances, it is typically only applied to high-loan-to-value mortgages or non-conforming loans. As long as the loan amount does not exceed 80% of the borrower's home value, private mortgage insurance is generally not required. It's important to consider the implications of mortgage insurance in order to make the right decision for you and your financial situation. Borrowers should consult their broker or lender to determine if mortgage insurance is necessary.
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