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 Woodbury, NY
Your one-stop-shop to compare all the rates, all at once.
With PolicyHub you get:
Over 20 policy provider comparison.
Explore multiple Woodbury, 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 Woodbury, NY is insurance that is designed to protect mortgage lenders against loss should a borrower default on their loan. This type of insurance is usually required if the loan-to-value ratio of the mortgage is greater than 80%, meaning the borrower is borrowing a large portion of the cost of the home. Mortgage insurance protects lenders so they can provide borrowers with more favorable interest rates.
Can I avoid a Woodbury mortgage insurance policy with a larger down payment?
Yes, you can avoid mortgage insurance by making a larger down payment in Woodbury, NY. Generally, if you are making a home purchase in this area and put down 20% or more of the purchase price as a down payment, you will not be required to pay mortgage insurance. Putting a larger down payment toward the purchase can result in an easier approval process and get you into a home faster. Additionally, having a larger down payment can allow you to avoid Private Mortgage Insurance (PMI) altogether and potentially save you hundreds of dollars a month in mortgage payments.
What is a private mortgage insurance policy Woodbury?
Private Mortgage Insurance (PMI) is a type of insurance that is typically required by banks and lenders when providing a mortgage loan to homeowners in Woodbury, NY. PMI covers the lender if the homeowner is not able to repay the loan, and it ensures that the lender will not suffer a financial loss on the loan. It is also important to note that the homeowner is responsible for paying the PMI premiums, which are usually part of the monthly mortgage payments.
How does FHA mortgage insurance near Woodbury work?
FHA mortgage insurance provides Woodbury, NY homeowners with additional protection when taking out a mortgage loan. This type of insurance is a guarantee that if you cannot pay your mortgage, the FHA will cover the full loan amount, minus any money you've already paid. Interest rates are typically lower than conventional mortgage loans, as well as down payment requirements, and you don't need perfect credit to qualify. Benefits of an FHA mortgage insurance loan in Woodbury, NY include competitive rates, lenient underwriting standards, and a more diverse pool of qualified applicants.
Who is eligible for USDA insurance from Woodbury mortgage insurance companies?
USDA mortgage insurance is available to anyone purchasing a home or refinancing an existing loan in Woodbury, NY who meets income and credit qualifications. Generally, household income must fall below a certain limit, depending on location. Individuals must also show a willingness and ability to pay their obligations. For people in Woodbury, NY, this can often be demonstrated by having a good credit score, reliable income, sufficient savings, and a valid U.S. state ID or driver's license. It is also important to have a written commitment from a qualified lender to finance the home.
VA loans may not be the best option for some Woodbury, NY homebuyers. They generally require the borrower to finance their own VA funding fee which can be up to 3.3%. Additionally, VA loans also limit the amount of money that homeowners can borrow typically up to $484,350. This amount could be too small for some high-priced homes in Woodbury. Finally, some lenders may charge higher interest rates on VA loans. This could mean more money out of pocket for the borrower.
What can I do to lower the cost of my mortgage insurance in Woodbury?
If you live in Woodbury, NY and want to lower the cost of your mortgage insurance, one option is to explore getting Private Mortgage Insurance. PMI is available through mortgage lenders and can often reduce the amount of insurance costs. You may also want to inquire about PMI based on your credit score, which could provide an additional discount on your mortgage insurance. Additionally, shopping around for lenders who provide competitive rates can help you determine the best deal for your needs.
When does a Woodbury mortgage insurance policy go away?
In Woodbury, NY, mortgage insurance generally goes away once the homeowner has reached 20% equity in the home. This type of insurance, also known as Private Mortgage Insurance (PMI), is often required to approve a loan for borrowers who put down less than 20%. This insurance ensures that the lender is financially protected if the homeowner defaults on the mortgage loan. The insurance is typically removed automatically once the borrower has reached the 20% equity threshold and the mortgage lender is notified of this change.
Can my Woodbury mortgage insurance company help me calculate my mortgage insurance cost?
Woodbury, NY lenders are available to help you calculate your mortgage insurance. Depending on the lender, they may be able to offer you several different options to choose from and help you decide which is the best fit for your situation. Additionally, many lenders use a financial calculator which can provide you with an estimate of the mortgage insurance that you can expect to pay. Your lender should also be able to provide you with advice on various types of mortgage insurance and help you to make a decision that is in your best interest.
Are there alternatives to mortgage insurance companies in Woodbury?
In Woodbury, NY, there are a few alternatives to traditional mortgage insurance. Homeowners can opt for Private Mortgage Insurance (PMI), which is a type of insurance paid by the homeowner that protects the lender if the borrower defaults on the mortgage loan. PMI may be required if the borrower's down payment is less than 20%.
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