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 Riverhead, NY
Your one-stop-shop to compare all the rates, all at once.
With PolicyHub you get:
Over 20 policy provider comparison.
Explore multiple Riverhead, NY 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 an important step for homeowners in Riverhead, NY, to protect their finances. It helps to protect a homeowner by providing a limited guarantee of payment if they experience a financial hardship or default. Mortgage insurance also provides lenders with a financial cushion in the event a borrower cannot repay the loan. This is especially important in Riverhead, NY, where home mortgage rates are relatively high and the risk of default is greater. Mortgage insurance helps protect lenders from losing money if a borrower must default due to an unforeseen event.
How can I reduce my Riverhead mortgage insurance policy cost with a larger down payment?
A larger down payment can be a great way to reduce your mortgage insurance cost in Riverhead, NY. Putting down more of your own money upfront can result in significant savings on interest over the course of your loan. It may also help reduce the amount of time you spend paying off your mortgage, depending on the size of your down payment. Additionally, some lenders in Riverhead may offer specially tailored loan programs or discounts for larger down payments. It's important to shop around and discuss all your options with reputable lenders in the area.
Who is eligible for a private mortgage insurance policy Riverhead?
In Riverhead, New York, borrowers that take out conventional home loans with a loan-to-value (LTV) ratio of more than 80% are typically required to obtain private mortgage insurance (PMI). PMI protects the lender in case the borrower stops making payments and defaults on the loan. This type of insurance is typically necessary for borrowers making a down payment of less than 20%. Borrowers in Riverhead, NY that are not eligible for other forms of mortgage insurance may be eligible for private mortgage insurance.
Who is eligible for FHA mortgage insurance near Riverhead?
Eligibility for FHA mortgage insurance in Riverhead, NY requires that prospective borrowers meet certain criteria. You must have a valid Social Security number, be a legal resident of the US, have a acceptable credit score, and have a valid, signed contract to purchase a home in an eligible area. This means that the loan must be used to purchase or refinance a single-family primary residence in Riverhead that is meeting the applicable FHA’s mortgagable property standards. Individuals must be able to demonstrate an acceptable source of income and a steady work history to be eligible.
What are the drawbacks of USDA insurance from Riverhead mortgage insurance companies?
When purchasing a home in Riverhead, NY, it is important to be aware of the drawbacks associated with USDA mortgage insurance. First, USDA mortgage insurance is only available to those who meet the area's income and location requirements. Additionally, this type of insurance has certain up-front costs associated with it, which must be paid before the loan is closed. These costs can include origination fees, GFE fees, appraisal fees, and inspection fees. Furthermore, USDA mortgage insurance is a long-term commitment; once the loan is finalized, the homeowner cannot get out of it without selling the home.
The VA funding fee for Riverhead, NY is calculated by a fixed percentage of the loan amount. It is based on the type of loan, if the borrower is Military service member or Veteran, the amount of the down payment, and eligibility for an exemption from the fee. The VA funding fees for all borrowers is just a fraction of the total cost of the loan, but is an important factor to consider when budgeting for the purchase of a home. It is typically a percentage of the total loan amount ranging from 0.50% to 2.
Are there discounts available for mortgage insurance in Riverhead?
Yes, discounts for mortgage insurance are available in Riverhead, NY. The discounts vary depending on the type of loan, the loan amount, and the insurance provider. Your best bet is to contact a lender in your area, as they can help you compare rates from a few different insurance companies and secure the best possible deal based on your state of residence. You may also be eligible for tax deductions and premium credits if you qualify for certain programs. Investigate all possibilities to save on mortgage insurance and make sure you're getting the most bang for your buck.
What are the requirements to cancel my Riverhead mortgage insurance policy?
In Riverhead, NY, requirements to cancel mortgage insurance typically vary by lender. However, in most cases, mortgage insurance can be cancelled once you reach a loan-to-value ratio of 80% or less, provided there is sufficient equity in the home. This is usually accomplished by making extra payments towards the mortgage principal or by forecasting hefty capital gains in the property's value. Additionally, you need to be up-to-date on all payments and have had no 30-day or more delinquencies in the previous 12 months. You may also need to provide proof of improved equity.
Can my Riverhead mortgage insurance company help me calculate my mortgage insurance cost?
Yes, your lender should be able to help you calculate your mortgage insurance, especially if they are familiar with the Riverhead, NY area. Many lenders have their own in-house calculators that can estimate your mortgage insurance rate and other closing costs. In addition, you can take advantage of the resources available from organizations such as the Riverhead Housing Authority and the Riverhead Homeowners Alliance. They can provide guidance on insurance premiums, taxes, and other financial obligations related to mortgages. Furthermore, there are several mortgage brokers in the area that can help you obtain the best rate possible.
Are there alternatives to mortgage insurance companies in Riverhead?
In Riverhead, NY, potential homeowners have the option of pursuing other types of insurance, such as Private Mortgage Insurance (PMI), Lender-paid Mortgage Insurance (LPMI), and Single-Premium Mortgage Insurance (SPMI). PMI is offered by private mortgage insurance companies and requires a one-time fee at closing. LPMI is paid for in part or in full by the lender and rolled into the mortgage. SPMI is paid for entirely up front, typically adding thousands of dollars to the cost of the mortgage loan.
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