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 Virginia Beach, VA
Your one-stop-shop to compare all the rates, all at once.
With PolicyHub you get:
Over 20 policy provider comparison.
Explore multiple Virginia Beach, VA 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 Virginia Beach, VA is a type of insurance policy designed to protect lenders if the borrower defaults on their loan. It is commonly referred to as private mortgage insurance (PMI). It is an additional insurance that borrowers must pay when they make a down payment of less than 20% of the home’s purchase price. Borrowers in Virginia Beach pay an annual premium that is a percentage of the loan balance and is divided equally into 12 monthly payments.
Can I avoid a Virginia Beach mortgage insurance policy with a larger down payment?
Yes, you can avoid mortgage insurance with a larger down payment in Virginia Beach, VA. Most loans in the area require a minimum of 20% for borrowers to avoid paying mortgage insurance, but some lenders may offer options requiring lesser amounts. It may be possible to find a loan with a 15% down payment, or even to make a 10% down payment if you bring in additional funds to cover a portion of the closing costs. Be sure to contact a local mortgage lender to discuss available options.
What are the drawbacks of a private mortgage insurance policy Virginia Beach?
Depending on your location, one potential drawback of private mortgage insurance in Virginia Beach, VA is that it can be expensive. Insurance premiums often increase, resulting in higher monthly payments. Additionally, taxes associated with home-ownership can be higher with a loan with private mortgage insurance compared to a loan without such insurance. Furthermore, it can take a long time to accumulate sufficient equity in one's home to cancel the private mortgage insurance. Lastly, if one defaults on the loan, they may be liable for costs that exceed what the insurance covers.
How does FHA mortgage insurance near Virginia Beach work?
FHA mortgage insurance is a type of insurance provided by the Federal Housing Administration (FHA) to protect lenders in case of default. The FHA guarantees lenders losses in the event of a foreclosure on a FHA-insured loan. In Virginia Beach, VA, this type of insurance is beneficial because it allows people who otherwise may not qualify for a loan to purchase a home. It also enables borrowers to obtain a loan with a relatively low down payment. While mortgage insurance is mandatory and adds to the cost of the loan, it also helps make the loan more affordable.
Who is eligible for USDA insurance from Virginia Beach mortgage insurance companies?
Those who live in Virginia Beach, VA who are considering purchasing a home may be eligible for USDA mortgage insurance. To receive this insurance, applicants must typically have a credit score of 620 or higher, must show steady income and employment history, and must generally buy a home in a rural or suburban area of Virginia Beach. The home must also meet USDA mortgage insurance standards for size and condition, and the total household income must fall below the household income limits for their area.
Individuals who are eligible to apply for a VA loan in Virginia Beach, VA include U.S. active-duty military service members, their spouses, veterans, and Reservists and National Guard members. Eligibility requirements for a VA loan in Virginia Beach also include an honorable character of service and a document from the Department of Veteran Affairs (VA) to prove it. Additionally, all applicants must meet a lender’s credit and income requirements, have sufficient funds, and provide a valid Certificate of Eligibility (COE).
Are there discounts available for mortgage insurance in Virginia Beach?
Yes, discounts may be available for mortgage insurance in Virginia Beach, VA. For example, the Virginia Beach Fire Department participates in the Community Assessment Discount Program, which reduces the cost of mortgage insurance for Virginia Beach citizens who live within the city's fire service boundaries. In addition to the discounts offered through the Community Assessment Discount Program, many insurance companies offer additional discounts that can reduce the cost of mortgage insurance. It's important to review the options available to you for mortgage insurance and shop around to find the best possible rate.
What process do I need to follow to cancel my Virginia Beach mortgage insurance policy?
In Virginia Beach, VA, to cancel your mortgage insurance, you must first ensure that your home's loan-to-value (LTV) percentage is no longer greater than 78%. Documentation and evidence that your LTV is lower than 78% must be submitted to your lender, who will typically require that you pay an appraisal fee. If the findings of the appraisal establish that your LTV is lower than 78%, your lender will process your request for mortgage insurance cancellation and begin the process of refunding any payments you have made on mortgage insurance in the past.
How do I calculate mortgage insurance for a Virginia Beach mortgage insurance company?
To calculate mortgage insurance in Virginia Beach, VA, you should contact a qualified lender for assistance. Your lender can help you calculate the precise amount of mortgage insurance required for your individual situation. Factors that will be taken into account include the amount of your loan, your credit score, and the loan-to-value ratio of the home. As mortgage insurance in Virginia Beach can be quite complex, it is best to go directly to a reputable lender for details.
Are there alternatives to mortgage insurance companies in Virginia Beach?
In Virginia Beach, VA homeowners may consider investing in a home warranty plan as an alternative to mortgage insurance. A home warranty plan can help protect the items like appliances, plumbing, and electrical options of a home and may help homeowners save on repair and replacement costs. Home warranty plans vary in coverage but may be tailored to fit the specific needs of the homeowner. Furthermore, many companies offer discounts to those who bundle home warranties with other homeowners insurance products. Homeowners should speak with their insurance agent to learn more about the benefits of a home warranty plan.
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