Mortgage Insurance Quotes and Coverage Options
Life is as unpredictable as today’s economy. Though you may not know the future, there are ways to safeguard yourself against the roadblocks that you encounter on your financial path. One such method is mortgage insurance, which protects lenders from losses in the event a borrower defaults on a loan. Mortgage delinquencies continue to hit record highs with the announcement that 6.25% of U.S. mortgage loans were 60 or more days past due. As this number increases, lenders will look to mortgage insurance to stay protected.
Mortgage insurance is important for two reasons.
Purchase Your Home Cheaper
- Because you are sharing the risk with the lender, less money is required up front for a down payment. The additional cash can be used for other investments and further financial stability.
Purchase Your Home Sooner
- With mortgage insurance, some lenders will accept as low as a 5% down payment for a home, compared to 20% without the insurance. This significant percentage spread can allow you to save for the home of your dreams much faster.
Find out more information and just how much you can save on mortgage insurance by completing the form below and you’ll receive your quote shortly!