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 Sherman, TX
Your one-stop-shop to compare all the rates, all at once.
With PolicyHub you get:
Over 20 policy provider comparison.
Explore multiple Sherman, TX 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...
When it comes to choosing the right mortgage insurance policy for Sherman, TX, a great place to start is by speaking with a knowledgeable mortgage professional near you. A mortgage professional can review your finances and home-buying goals to help guide you to a policy that provides the financial protection you’ll need without breaking the bank. Look for a mortgage professional who can explain your options in plain, easy-to-understand terms so you can make an informed decision that’s right for your life and budget.
How can I reduce my Sherman mortgage insurance policy cost with a larger down payment?
In Sherman, TX, one of the most effective ways to reduce your mortgage insurance cost is to make a larger down payment. Generally speaking, the higher the down payment you make, the lower your mortgage insurance cost will be. Additionally, if you can achieve a loan-to-value (LTV) ratio below 80%, some lenders will waive the mortgage insurance cost entirely. It is also worth noting that using a home financing calculator can help you assess the amount of down payment you need to make to obtain your desired LTV ratio and consequently reduce your mortgage insurance cost.
What are the drawbacks of a private mortgage insurance policy Sherman?
One potential drawback of private mortgage insurance in Sherman, TX, is that it can be expensive. The cost of the monthly premium must be considered when creating a budget for the home buyer, as it could increase the overall monthly expense when compared to a loan without PMI. Additionally, PMI does not actually benefit the homeowner, as the insurance provider is actually protecting the lender in the event that the homeowner defaults on the loan.
Who is eligible for FHA mortgage insurance near Sherman?
Anyone interested in an FHA loan in Sherman, TX must meet the eligibility requirements. Generally, the requirements involve having a steady income, reliable employment, and a good credit score. You may also need to provide a down payment of at least 3.5 percent and prove you have enough funds to cover closing costs. Additionally, there are limits on how much you can borrow, and you must prove that the property you’re interested in buying meets FHA loan requirements. To apply for FHA mortgage insurance, you must speak to a qualified lender in your area.
What are the benefits of USDA insurance from Sherman mortgage insurance companies?
USDA mortgage insurance opens up the opportunity for potential homeowners in Sherman, TX to access mortgages with no down payment. This makes it easier for buyers to purchase a home who might otherwise not be able to. USDA mortgage insurance also offers low fixed interest rates, as well as low monthly mortgage insurance premiums. Furthermore, this form of mortgage insurance also offers eligible borrowers an extended repayment period of up to 33 years, helping them afford their monthly expenses. Finally, the USDA mortgage insurance program provides eligible borrowers with more flexible credit requirements than traditional mortgages. This program makes home ownership a possibility for many in Sherman, TX.
The Veterans Affairs (VA) funding fee for buyers using a VA home loan in Sherman, TX is calculated according to a sliding fee scale based on a borrowers service category as well as the type of loan used. The fee can range from 0.5-3.6 percent of the loan amount and is either paid in cash upfront, or can be financed with the loan. The fee does not apply to disability discharges or loans to veterans who have already used their entitlement.
What can I do to lower the cost of my mortgage insurance in Sherman?
Sherman, TX homeowners looking to reduce the cost of their mortgage insurance can specifically look into the Homeowner's Protection Act of 1998. This ensures that homeowners have the right to request the cancellation or termination of their private mortgage insurance once they have paid off enough of their principal balance and show that their home has held at least 20% equity for the past 2-5 years. It's important to contact your lender and inquire as to what criteria must be met in order to be eligible for this.
What are the requirements to cancel my Sherman mortgage insurance policy?
The requirements to cancel your mortgage insurance in Sherman, Texas will depend on the lender and type of insurance you have. Generally, the lender will require that you have a certain amount of equity in your property, as well as up-to-date payments and a good credit score. Be sure to review your agreement or contact your lender to determine exactly what criteria must be met for cancellation in your location.
Can my Sherman mortgage insurance company help me calculate my mortgage insurance cost?
Yes, your lender in Sherman, TX can definitely help you calculate your mortgage insurance. At any reputable lender, you should be able to access helpful tools, such as a mortgage calculator, that can help you determine the amount of mortgage insurance, if any, you need. You will need to provide details of the loan, such as your loan amount, down payment, mortgage term, etc., for the calculator to work correctly. Experienced lenders will also be able to walk you through the process and answer any questions you may have.
Do I need mortgage insurance companies in Sherman?
Whether or not you need mortgage insurance in Sherman, TX will depend on several factors, including your down payment, credit score, loan type and loan amount. Generally speaking, mortgage insurance is required if you’re placing less than 20% as a down payment on a conventional loan or if you’re financing more than 80% of the property’s value with an FHA loan. Additionally, if your credit score is not high enough, mortgage insurance may also be required.
Other locations near Sherman, TX
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