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 Schererville, IN
Your one-stop-shop to compare all the rates, all at once.
With PolicyHub you get:
Over 20 policy provider comparison.
Explore multiple Schererville, IN 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...
In Schererville, IN, there are four main types of mortgage insurance that homeowners should be aware of. Private Mortgage Insurance (PMI) is typically required when obtaining a loan with a down payment less than 20%, and protects lenders from the risks associated with lending money to buyers with limiteddown payments. FHA Mortgage Insurance (MIP) is a specific type of policy many first-time homebuyers use, and provides additional protection against default risk. Veterans Affairs (VA) insurance is similar to PMI, but only helps with VA mortgage loans.
Can I avoid a Schererville mortgage insurance policy with a larger down payment?
Yes, in Schererville, Indiana, you may be able to avoid mortgage insurance with a larger down payment. Many mortgage lenders will require you to have 20-25% of the purchase price of the home saved in cash or assets prior to obtaining a traditional home loan. By putting more money down, you can reduce the amount loaned to you, resulting in a lower loan-to-value ratio, and potentially avoiding the need to pay for mortgage insurance.
What are the benefits of having a private mortgage insurance policy Schererville?
In Schererville, IN, private mortgage insurance (PMI) can offer a number of benefits to home buyers. PMI provides added protection for the lender if a borrower defaults on the loan, reducing the risk associated with home loans and creating access to mortgages for many buyers who couldn't otherwise qualify. Homeowners who finance more than 80% of their home's purchase price can benefit from PMI, potentially allowing them to purchase a home while avoiding the costs associated with a traditional down payment.
What are the benefits of FHA mortgage insurance near Schererville?
Residents of Schererville, Indiana looking to purchase a home can benefit from FHA Mortgage Insurance by utilizing the option of a low down payment and the ability to finance closing costs. This type of insurance is also beneficial because of the lenient credit requirements, allowing those who may have struggled financially or who don't have a large amount of money in savings the opportunity to become homeowners. Additionally, a lower bank reserve requirement is beneficial to those who cannot afford a larger monthly payment on a more traditional mortgage.
Who is eligible for USDA insurance from Schererville mortgage insurance companies?
In Schererville, IN, USDA mortgage insurance is available to individuals or families who meet certain income eligibility requirements. Eligible borrowers are typically those whose family’s income does not exceed 115% of the median income for the area. In addition, applicants must currently not own a home and must demonstrate a credit score of at least 640. Homebuyers must also actively participate in a homebuyer’s education program prior to closing. In addition, borrowers must occupy the residences as their primary residence and the property must be located in a rural area as established by the USDA.
In Schererville, IN, the VA funding fee is a one-time payment made by all borrowers using the VA loan program. The purpose of this fee is to offset the costs of administering the VA loan program and help reduce its impact on taxpayers. The current VA funding fee is 2.30% for first-time buyers with no down payment and a 4.60% fee for subsequent buyers with no down payment. However, eligible veterans and service members may be exempt from the VA funding fee or have their fee lowered. Certain disabled veterans may be exempt from the fee altogether.
What can I do to lower the cost of my mortgage insurance in Schererville?
One way to lower the cost of mortgage insurance in Schererville, IN is to shop around for different rates. Different lenders offer various rates and terms, and comparing them can often yield a reduced cost. Additionally, taking the time to build good credit can be beneficial in terms of being offered more favorable lending rates. Moreover, speaking with a HUD-approved housing counselor can be a smart step for understanding the full scope of mortgage insurance related to a particular property. Refinancing can also be an effective way to reduce the overall costs of mortgage insurance.
What process do I need to follow to cancel my Schererville mortgage insurance policy?
To cancel your mortgage insurance while living in Schererville, IN, you will want to contact your lender as soon as possible. They will be able to tell you what documents are required and what the process is for canceling your mortgage insurance policy. Generally, if you’ve built enough equity in the property, your lender may cancel your mortgage insurance for you. If that’s not the case, it's likely that you’ll need to provide proof of your home’s appraised value to prove that you have enough equity to cancel this coverage.
Is there an online calculator for mortgage insurance from a Schererville mortgage insurance company?
In Schererville, IN, there are several online calculators available to help you determine your mortgage insurance needs, such as the one offered by the Indiana Department of Financial Institutions. By inputting information specific to your home mortgage (the amount of the loan, your down payment, your credit score, etc.), you can get an estimate of what your mortgage insurance will cost. These calculators generally provide a variety of options and have step-by-step instructions that are easy to use.
Are there alternatives to mortgage insurance companies in Schererville?
Yes, there are alternatives to mortgage insurance available for homeowners in Schererville, IN. One option is Private Mortgage Insurance (PMI): this type of insurance is offered by lenders and often requires a single one-time payment. Another option is to make a larger down payment when buying a property. This will reduce the principal amount of the loan, which can mean lower monthly payments and/or a shorter loan term. Additionally, another alternative is an 80/20 loan, which is a combination of two loans: one for 80 percent of the purchase price, and the other one for 20 percent;
Other locations near Schererville, IN
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