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 Prescott, AZ
Your one-stop-shop to compare all the rates, all at once.
With PolicyHub you get:
Over 20 policy provider comparison.
Explore multiple Prescott, 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...
Mortgage insurance in Prescott, AZ enables buyers to purchase a home with less than a 20% down payment. The insurance protects lenders from losses that occur when a borrower either defaults on the loan or when a borrower's equity in the home drops below the loan amount. The insurance is typically paid for by the borrower, and the premiums are paid in one lump sum at closing or in added payments to the mortgage payment. While the insurance protects the lender, it provides no direct benefit to the borrower since it only covers the lender in the event of default.
How can I reduce my Prescott mortgage insurance policy cost with a larger down payment?
Depending on the type of mortgage you obtain, a larger down payment in Prescott, AZ can reduce your mortgage insurance costs. By providing a larger down payment, you lower your overall loan-to-value ratio and, as a result, lower the overall amount that you borrow and own. This typically translates into reduced mortgage insurance costs. Furthermore, many lenders offer additional discounts for larger down payments. Check with your local banks, credit unions or other lenders in Prescott to learn more about how a larger down payment can reduce your mortgage insurance costs.
What are the drawbacks of a private mortgage insurance policy Prescott?
Private mortgage insurance can be beneficial for some homebuyers, but it is not without its drawbacks. In Prescott, AZ, one of the biggest drawbacks to private mortgage insurance is the extra cost it adds to your monthly mortgage payment. Not only does this increase the overall cost of homeownership, it is also an additional expense that can be difficult to budget for, especially as Prescott's housing costs continue to rise. Furthermore, private mortgage insurance does not offer any equity to the homeowner and it does not build any additional long-term value.
What are the drawbacks of FHA mortgage insurance near Prescott?
The major drawback of an FHA mortgage insurance policy is the cost. In Prescott, AZ, a borrower can expect to pay an up-front mortgage insurance fee of 1.75% of the total loan amount as well as an annual premium of 0.85% for at least 11 years. This can add up quickly and make an FHA loan more costly than other loan options. Additionally, the income limits for a borrower to qualify for an FHA mortgage are generally quite low, meaning fewer potential borrowers will meet eligibility standards.
What are the benefits of USDA insurance from Prescott mortgage insurance companies?
In Prescott, AZ, USDA mortgage insurance offers a number of great benefits to eligible homebuyers, such as: the ability to purchase a home with no down payment; competitive mortgage rates; a low monthly mortgage insurance premium; and access to relaxed credit requirements. USDA mortgage insurance can be especially beneficial for those with low to moderate incomes, as they tend to not have access to the funds needed to make a large down payment or pay for hefty closing costs.
The Virginia funding fee costs a percentage of the overall loan amount, and the amount varies depending on the borrower's eligibility. For example, in Prescott, AZ, VA home buyers/borrowers are required to pay an upfront funding fee of 1.25% of the loan amount (2.4% for reservists and 3.6% for VA Loans with no down payment). The fee can be financed, meaning it is added to the loan amount. Funding fees are mandatory and help to cover the cost of administering the VA Home Loan Guaranty program and reduce the cost to the taxpayer.
Are there discounts available for mortgage insurance in Prescott?
Yes, you may qualify for discounted mortgage insurance in Prescott, AZ. As part of the Arizona Home Plus program, veterans and service members may be eligible for discounted mortgage insurance rates. Additionally, if you have lived in Prescott, AZ for at least 5 years, you may also qualify for discounts on mortgage insurance rates based on the amount of time you have lived in the city. We suggest checking with a local financial expert to find out the specific eligibility requirements for these discounts.
What are the requirements to cancel my Prescott mortgage insurance policy?
To cancel your mortgage insurance in Prescott, AZ, you must satisfy the requirements of the Homeowners Protection Act (HPA) of 1998. At a minimum, your loan must have been closed on or after July 29, 1999, your mortgage payments must be current, and you must have built up at least 20% equity in your home. In addition, you must fulfill the other conditions of your lender's cancellation policy. Generally speaking, this means the the mortgage must have been in effect for at least two years and must have been issued to finance a primary residence.
Can my Prescott mortgage insurance company help me calculate my mortgage insurance cost?
Yes! In Prescott, AZ, your lender can certainly help you calculate your mortgage insurance. To get started, it's important to understand what mortgage insurance is and why it's necessary typically, mortgage insurance covers the lender in case the borrower defaults on the loan, and in some cases, it is required to protect the lender. Your lender can discuss your specific situation with you and guide you through the process of calculating the amount of mortgage insurance for your loan. From there, you'll be able to make an informed decision about the best mortgage coverage option for you.
Who is required to use mortgage insurance companies in Prescott?
In Prescott, AZ, if the down payment on a home mortgage is less than 20% of the purchase price, the borrower is usually required to obtain private mortgage insurance (PMI). PMI is an insurance policy that protects the lender in case the borrower defaults on the loan. This insurance helps lenders reduce the risk of loan default and make mortgages more accessible to borrowers with less money for down payments. The monthly PMI payments are part of the borrower's mortgage payment.
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