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 Statesville, NC
Your one-stop-shop to compare all the rates, all at once.
With PolicyHub you get:
Over 20 policy provider comparison.
Explore multiple Statesville, NC 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 Statesville, NC, there are two different types of mortgage insurance: private mortgage insurance (PMI) and mortgage insurance premium (MIP). PMI typically applies to conventional loans, and is an insurance policy that protects lenders from a borrower’s default. MIP, on the other hand, applies to FHA loans and is a mortgage insurance required by the Federal Housing Administration. The main difference is that PMI is paid for by the borrower, while MIP is paid for by the loan recipient, and an upfront fee as well as monthly installments are required.
Does the cost of a Statesville mortgage insurance policy depend on the size of my down payment?
Yes, the cost of mortgage insurance in Statesville, NC does depend on the size of the down payment. Typically, the larger the down payment, the lower the cost of the insurance. For example, if your down payment is 10% or more, the amount of insurance you have to pay is often lower than if the down payment is less than 10%. The amount of the premiums you pay also depends upon the type and terms of your mortgage. It’s important to speak to a mortgage specialist in order to better determine what rates and terms are available in Statesville, NC.
What are the drawbacks of a private mortgage insurance policy Statesville?
Private mortgage insurance is an upfront cost that can add to the total cost of borrowing for buyers in Statesville, NC. PMI could cause some buyers to overextend themselves financially, as they might not be able to make the mortgage payments each month while still affording their other expenses. Additionally, borrowers must meet a minimum loan-to-value ratio when purchasing a property with a private mortgage insurance policy, which could make it challenging for buyers to find a property that meets their needs and budget within that set limit.
What are the drawbacks of FHA mortgage insurance near Statesville?
FHA mortgage insurance is typically more expensive over the life of the loan than other types of loan insurance, which can be an added burden especially for first-time homebuyers in Statesville, NC. In addition, FHA mortgage insurance is subject to upfront premiums as well as monthly premiums, and these fees can make it difficult for some homebuyers in Statesville, NC to qualify for the loan. Furthermore, FHA mortgage insurance policies usually require a more extensive and longer inspection process which can add time and costs for prospective homebuyers.
Who is eligible for USDA insurance from Statesville mortgage insurance companies?
In Statesville, NC, eligibility guidelines for USDA mortgage insurance depend mainly on income, creditworthiness, and an individual's overall ability to pay back the loan. To qualify, borrowers must be of moderate income and not make more than 115% of the area median income. Additionally, applicants must demonstrate their creditworthiness through a clean credit history with no instances of late payments, foreclosure, or bankruptcy. Depending on the area, other factors, such as the availability of the home for sale, may also affect USDA mortgage insurance eligibility.
Residents of Statesville, NC can benefit from taking out a VA loan which provides easier qualification and loan options available for those that are eligible. With a VA loan there is no required down payment, there will be no private mortgage insurance, and usually the interest rate is lower than a traditional loan. Additionally, no prepayment penalty is charged for those who wish to pay their loan off early. The final advantage of a VA loan is that a buyer is allowed to pay for all of the usual closing costs. These benefits are all designed to help veterans purchase a home in Statesville, NC.
Can I negotiate the cost of my mortgage insurance in Statesville?
Yes, you can negotiate the cost of your mortgage insurance in Statesville, NC. Many of the major lenders in the area offer cost negotiation options when you purchase mortgage insurance with them. It is important to research the different cost negotiation options in order to take advantage of the best deals. When communicating with your lender, it is important to ensure that you communicate clearly, so that you don't find yourself paying more than you need to. A little bit of research and negotiation can go a long way in saving you money on your mortgage insurance.
Can I cancel my Statesville mortgage insurance policy early?
In Statesville, NC, you may be able to cancel your mortgage insurance early depending on the specifics of your loan and the agreement you have with your lender. It's important to check your loan documentation to confirm if early cancellation is possible. Depending on your lender, you may be able to cancel your mortgage insurance immediately after making a certain number of payments on time and having a certain loan to value ratio. If you are considering canceling your mortgage insurance early, make sure to discuss this with your lender to see if it is a viable option for you.
How do I calculate mortgage insurance for a Statesville mortgage insurance company?
Calculating mortgage insurance in Statesville, NC depends on the type of home loan, size of down payment, and mortgage insurance company. To get an accurate rate, take the amount of the loan and multiply it by the correct mortgage insurance premium based on the type of loan used. You may also want to reach out to a local mortgage advisor for help in comparing different loan rates, interest, and fees from various lenders. Doing so can help you save money in the long run and give you peace of mind knowing you are well informed about your loan terms.
Are there alternatives to mortgage insurance companies in Statesville?
In Statesville, NC there are certainly alternatives to mortgage insurance. For starters, some lenders may allow the borrower to pay a higher down payment in order to avoid mortgage insurance. Another option is to look into lenders that offer Private Mortgage Insurance (PMI). PMI can be an immediate available option to those that are not able to put a higher initial down payment, or if other loan requirements do not meet conventional needs. Finally, Veterans Affairs loans are sometimes a solid choice for those in Statesville as they do not require mortgage insurance.
Other locations near Statesville, NC
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