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 Suffern, NY
Your one-stop-shop to compare all the rates, all at once.
With PolicyHub you get:
Over 20 policy provider comparison.
Explore multiple Suffern, 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 in Suffern, NY is an important security measure that helps you protect your real estate investment. It is basically a type of protection that is purchased by a homeowner to cover any potential losses in the event of a presumptive default on the loan. This type of insurance is highly recommended if you own a home in Suffern, because you can be sure that no matter what happens, the lender will have recourse to pay back the loan. In addition, it can also help to alleviate any financial anxieties related to homeownership and provide peace of mind for both the owner and the lender.
Can I avoid a Suffern mortgage insurance policy with a larger down payment?
Yes! Making a larger down payment is one way to specifically avoid mortgage insurance in the Suffern, NY area. Generally speaking, lenders require borrowers to pay mortgage insurance if their down payment is less than 20% of the purchase price. Suffern area lenders may require mortgage insurance for even larger down payments, so consult your lender for specific details about mortgage insurance and potential ways to avoid it. Making a larger down payment may also help you qualify for a lower interest rate on your mortgage.
What are the drawbacks of a private mortgage insurance policy Suffern?
One potential drawback of private mortgage insurance in the Suffern, NY area is that the cost of it may be relatively high. While it is generally calculated as a rate of the loan amount, the exact cost will vary from lender to lender. In addition, some lenders require private mortgage insurance to be part of the loan terms, which means that even if the borrower puts down a high down payment to lower the loan amount, they may still be required to pay for PMI.
How does FHA mortgage insurance near Suffern work?
FHA mortgage insurance is available in Suffern, NY to help borrowers finance their home purchase and provides extra protection to lenders. The insurance works by covering the lender in the event of a default, making it an attractive financing option for buyers. Typically, borrowers will need to pay an upfront mortgage insurance premium (MIP) and an annual premium. The upfront MIP is a one-time fee, and the annual premium is paid in monthly installments. Both premiums help protect the lender, and all premiums must be paid for the duration of the loan for the lender to remain covered.
How do Suffern mortgage insurance companies process USDA insurance?
USDA mortgage insurance in Suffern, NY works by providing the ability for low to moderate income families to own a home. The USDA mortgage insurance is a guarantee program that offers 100% loan financing and allows for qualified families in rural areas to be eligible for home ownership without the burden of a large down payment. With the insurance, lenders are protected if the borrower defaults on their loan, allowing them to offer low interest rates and have flexible qualifying requirements. Furthermore, the program is generally available to those with a household income of up to 115% of the median income in the area.
The VA Funding Fee for veterans in Suffern, NY is calculated based on their status as a first time or repeat borrower, loan type (purchase or refinance), and down payment percentage. Generally, first time VA loan borrowers may pay up to 3.6% of the loan amount depending on these factors. Repeat borrowers may pay up to 3.3% of the loan amount. If the borrower is receiving disability or making a very small down payment, the funding fee may be reduced, lowered, or even completely exempted in some cases.
How much is mortgage insurance in Suffern?
The amount of mortgage insurance you'll need to pay in Suffern, NY depends on various factors, including the type of loan and the loan-to-value ratio. Generally, you'll pay a percentage of the loan amount, with higher percentages accounting for higher loan amounts. Additionally, you may need to pay mortgage insurance premiums, or MIP. There are several types of mortgage insurance, including private mortgage insurance, VA, FHA, and USDA insurance. It's best to contact a local mortgage lender to get more information.
What process do I need to follow to cancel my Suffern mortgage insurance policy?
If you live in Suffern, NY and need to cancel your mortgage insurance, the process to do so is easy and straightforward. Your first step should be to contact your mortgage lender directly to discuss the requirements and process for cancelling your mortgage insurance. Depending on the type of mortgage insurance policy you have, you may need to submit specific documentation such as proof of employment, income verification, and other financial records. Additionally, you may need to pay a one-time, up-front cancellation fee or submit a Cancellation Form.
Can my Suffern mortgage insurance company help me calculate my mortgage insurance cost?
Yes, in Suffern, NY your lender can help you calculate your mortgage insurance. Many mortgage lenders in the area have trained and knowledgeable loan officers who are experienced in assisting borrowers to determine the appropriate coverage for their needs. Your lender can provide you with a comprehensive estimate of what your mortgage insurance may cost and then can help you to tailor the coverage to fit your budget. It is important to note that while mortgage insurance is not required in New York, depending on the nuances of your loan, an added layer of protection may be needed.
Are there alternatives to mortgage insurance companies in Suffern?
Yes, there are alternatives to mortgage insurance for Suffern, NY residents. One potential option is a banking product referred to as 'piggyback loans'. Piggyback loans involve taking out two consecutive mortgage loans, with the first loan covering 80% of a property's purchase price and the second loan covering the remaining balance. Another option in Suffern, NY could be a Home Equity Line of Credit (HELOC), which allows a homeowner to borrow against the value of their home.
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