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 Portsmouth, VA
Your one-stop-shop to compare all the rates, all at once.
With PolicyHub you get:
Over 20 policy provider comparison.
Explore multiple Portsmouth, VA 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 is important for homeowners in Portsmouth, Virginia because it help provides you with financial protection should you ever be faced with a financial hardship, like a job loss or an unexpected medical expense. A mortgage insurance policy can help to keep you from defaulting on your mortgage during tough economic times. It also helps to provide a level of security and peace of mind to homeowners, as it offers replacement costs or home repairs due to traumatic events. This coverage frees up homeowners' funds to be used for other purposes, like investments or reducing debt all of which are important for protecting your financial future.
How can I reduce my Portsmouth mortgage insurance policy cost with a larger down payment?
A larger down payment can definitely help reduce your mortgage insurance cost in Portsmouth, VA. Generally, the larger your down payment, the lower the mortgage insurance rate. Additionally, some mortgage companies in Portsmouth, VA, may offer incentives for larger down payments, such as discounted closing costs or reduced interest rates. Additionally, if you are a first-time homebuyer, there are a variety of local, state, and federal programs in Portsmouth, VA that may provide you with additional assistance, grants, and tax credits towards your mortgage costs.
What are the drawbacks of a private mortgage insurance policy Portsmouth?
Private mortgage insurance (PMI) in Portsmouth, VA has several drawbacks, primarily, the cost. PMI can range significantly, depending on the size of a loan, so borrowers should calculate the cost based on their personal circumstances. Additionally, it is not always possible to cancel PMI if the housing market changes; lenders may require borrowers to keep paying for PMI even after their home equity surpasses 20%, reducing their overall returns. Lastly, PMI increases the monthly mortgage payment, which may further complicate an already difficult loan payment decision for some.
What are the drawbacks of FHA mortgage insurance near Portsmouth?
In Portsmouth, Virginia, one of the potential drawbacks of FHA mortgage insurance is that the cost of the mortgage insurance can be quite expensive. Additionally, buyers in the Portsmouth area should be aware that they will need to pay mortgage insurance for the life of the loan, unlike other types of loans which typically require mortgage insurance coverage for a set period. Furthermore, FHA mortgage insurance may add to a borrower's monthly payment, so buyers who are looking to keep their monthly payments low should take this into account.
Do Portsmouth mortgage insurance companies offer USDA insurance?
USDA Mortgage Insurance is an insurance program provided by the United States Department of Agriculture specifically for rural area homeowners in Portsmouth, VA. It offers lower interest rates than other mortgages, making it an attractive option for prospective home owners in this area. The USDA provides a 100% financing option, allowing borrowers to receive loans without having to put any money down. This type of mortgage can help those who are unable to get financing from more mainstream lending institutions, and it can help borrowers in Portsmouth, VA who want to make a sound investment in the future of their home and community.
VA loans in Portsmouth, VA can have a higher interest rate than conventional loans, along with higher closing costs. The certification process (verifying the Veteran's eligibility) for a VA Loan can also be time consuming, and the Veteran must remain in the property for at least 12 months after closing, otherwise they may face as penalty fee, causing financial difficulty for those He or She must move prior to that period. Lastly, VA loans are limited in the type of home being purchased; certain restrictions apply in regards to property condition, size, and location.
What factors influence the cost of mortgage insurance in Portsmouth?
In Portsmouth, VA, several factors can influence the cost of mortgage insurance. These include the borrower's credit history and the amount of the down payment, the loan amount, type of loan, the borrower's income level, and the length of the loan. The current interest rate also affects the cost and can vary significantly from lender to lender. A borrower's debt-to-income ratio and real estate market conditions may also be considered when determining the cost of mortgage insurance.
Can I cancel my Portsmouth mortgage insurance policy early?
In Portsmouth, VA, you may potentially be able to cancel your mortgage insurance early. It is important to contact your lender to discuss the details of cancelling the mortgage insurance early. In some cases, the mortgage insurance may be required for the duration of the loan, while in other cases it may be possible to cancel it prior to the full term. It is best to confirm with your lender as there may be various criteria you must meet in order to be able to cancel the mortgage insurance early such as on-time payment history and the home's current market value.
How do I calculate mortgage insurance for a Portsmouth mortgage insurance company?
Calculating mortgage insurance in Portsmouth, VA can be done using the resources provided by the Federal Housing Authority (FHA). The FHA provides mortgage insurance for approved lenders, so it is important to determine which program is best for you. Once you have found an FHA approved lender, they can provide you with a specific calculator that will help you determine the insurance premium paid to the FHA. Additional factors, such as credit score and debt-to-income ratio must also be taken into account when calculating the mortgage insurance.
Are there alternatives to mortgage insurance companies in Portsmouth?
In Portsmouth, VA, there are several alternatives to mortgage insurance available. Homebuyers may opt for a higher down payment of 20% or more to avoid the premium associated with mortgage insurance. Additionally, some lenders offer Portfolio Mortgage programs that do not require mortgage insurance, regardless of down payment amount. Others lenders may require a lender-paid mortgage insurance option, which is generally rolled into the interest rate on the loan. Homebuyers should discuss all options, including any government-backed loan programs, with their lender in order to determine the best and most affordable mortgage for them.
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