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 Providence, RI
Your one-stop-shop to compare all the rates, all at once.
With PolicyHub you get:
Over 20 policy provider comparison.
Explore multiple Providence, RI 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 Providence, RI is a type of insurance policy that lenders require borrowers to purchase to protect them in the event of a loan default. It provides financial protection if the borrower is unable to make payments on their loan. Mortgage insurance typically allows borrowers to purchase a home, a condominium, or other real estate with a smaller down payment than would otherwise be required. It also typically allows the lender to grant a larger loan-to-value ratio than they would otherwise allow.
Does the cost of a Providence mortgage insurance policy depend on the size of my down payment?
Yes, in Providence, RI the cost of mortgage insurance will depend on the size of your down payment. Typically, if your down payment is less than 20%, you will have to pay for mortgage insurance in order to be approved for a loan. The more you put down, the lower your cost for the insurance will be and some lenders may even waive the mortgage insurance altogether with a larger down payment. Shopping around for a mortgage can be a great way to compare lenders’ mortgage insurance rates in Providence, RI.
Do I need a private mortgage insurance policy Providence?
In Providence, Rhode Island, mortgage lenders typically require private mortgage insurance (PMI) when home buyers make a down payment of less than 20% of the purchase price. Borrowers must purchase PMI coverage to protect the lender from the risk of default. PMI premiums vary depending on the total loan amount and the size of the down payment. PMI may be necessary for cost-conscious buyers who can't afford a larger down payment, especially in an area where home prices are higher than the national average.
What is FHA mortgage insurance near Providence?
FHA mortgage insurance is a type of insurance or protection offered by the Federal Housing Administration (FHA) to mortgage lenders in Providence, RI. This protection helps to guard a lender’s financial investments if a borrower defaults on or is unable to fulfill the loan agreement for any reason. Once the borrower's loan has been approved, the borrower is responsible for an upfront insurance premium that is paid to the FHA to secure the loan. This insurance is also paid in the form of an annual premium divided between 12 monthly payments that are added onto the borrower's monthly mortgage payment.
What are the benefits of USDA insurance from Providence mortgage insurance companies?
In Providence, RI, homeowners can benefit greatly from USDA Mortgage Insurance. This type of insurance offers low-to-moderate income borrowers the opportunity to purchase a home without the need for a down payment and also covers eligible closing costs. Additionally, credit guidelines for USDA mortgages are more flexible than other loan types. This means borrowers with a slightly lower or longer credit history may still be eligible. Lastly, USDA mortgage insurance typically has low interest rates, which can help borrowers save money over the life of the loan.
The VA funding fee in Providence, RI is determined by several factors, such as the Veteran's category and service history (i.e. those who have served before vs. those returning from active duty), the loan amount, and whether it’s the Veteran’s first loan or the borrower has previously used a VA Home Loan. Generally, for first time borrowers, the VA funding fee in Providence, RI is 2.15%, and for all other types of users it’s 3.3%.
What can I do to lower the cost of my mortgage insurance in Providence?
In Providence, RI, there are a few strategies you can use to lower the cost of your mortgage insurance. One strategy is to secure a higher down payment. This will essentially reduce the amount of mortgage insurance you'll need to pay. Additionally, you may consider having your mortgage insurance premium escrowed while paying for your loan. This means that your premium will be included in your monthly mortgage payment, so you don't have to cover the entire cost up front. It's important to shop around and compare costs among several providers to find the best deal.
What process do I need to follow to cancel my Providence mortgage insurance policy?
If you are a homeowner in Providence, RI, interested in canceling your mortgage insurance, you need to contact your lender as soon as possible. Explain that you would like to cancel your mortgage insurance and ask what process you will need to follow in order to cancel. Your lender should provide you with information about the process, as it is different for each homeowner. The lender may require you to provide them with certain documents, such as proof of good financial standing, and will need to review them before canceling your mortgage insurance.
Can my Providence mortgage insurance company help me calculate my mortgage insurance cost?
In Providence, RI, most lenders are able to provide guidance and assistance in calculating your mortgage insurance. Your lender will be able to review your particular situation and provide calculations that include any applicable down payment, credit score, loan type, term length, and other variables. It's important to understand all the factors that go into calculating your mortgage insurance in order to make a responsible financial decision. Your lender can also provide advice about the types of loan products that may suit your needs.
What happens if I don't use mortgage insurance companies in Providence?
In Providence, RI, if you don't get mortgage insurance, then you're missing out on one of the smartest investments you can make to protect yourself and your family from the unexpected. Mortgage insurance provides an added layer of security, in case something were to happen to you and you weren't able to make your mortgage payments. Without it, you risk not only the loss of your home but significant financial hardship. To make sure your mortgage is secure, make sure you're getting the right policy with the right coverage that's specific to your situation.
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