As a homeowner, you’re always looking for ways to save money on your mortgage. One way to do that is to compare mortgage insurance providers.
When you’re buying a home, Private Mortgage Insurance (PMI) protects your lender in case you default on your loan.
PMI can be expensive, so it’s important to compare the costs of different PMI providers before you buy a home.
There are a lot of private mortgage insurance providers out there, so it can be tough to know which one is the best for you.
To help you out, we’ve compiled a list of the 20 best private mortgage insurance providers in 2022.
1. American Home Shield
American Home Shield is the largest provider of private mortgage insurance in the United States.
The company offers a variety of PMI plans, including a basic plan with no upfront premium and an annual premium of 0.55% of the loan amount.
American Home Shield also offers a variety of discounts, including a 5% discount for autopay and a 10% discount for customers who purchase a policy online.
2. CMS Insurance
CMS Insurance is a leading provider of private mortgage insurance in Canada.
The company offers a variety of PMI plans, including a basic plan with no upfront premium and an annual premium of 0.50% of the loan amount.
CMS Insurance also offers a variety of discounts, including a 5% discount for autopay and a 10% discount for customers who purchase a policy online.
3. Fidelity National Financial
Fidelity National Financial is one of the largest providers of private mortgage insurance in the United States.
The company offers a variety of PMI plans, including a basic plan with no upfront premium and an annual premium of 0.60% of the loan amount.
Fidelity National Financial also offers a variety of discounts, including a 5% discount for autopay and a 10% discount for customers who purchase a policy online.
4. Genworth Mortgage Insurance
Genworth Mortgage Insurance is a leading provider of private mortgage insurance in Canada.
The company offers a variety of PMI plans, including a basic plan with no upfront premium and an annual premium of 0.55% of the loan amount.
Genworth Mortgage Insurance also offers a variety of discounts, including a 5% discount for autopay and a 10% discount for customers who purchase a policy online.
5. MGIC
MGIC is the largest provider of private mortgage insurance in the United States.
The company offers a variety of PMI plans, including a basic plan with no upfront premium and an annual premium of 0.65% of the loan amount.
MGIC also offers a variety of discounts, including a 5% discount for autopay and a 10% discount for customers who purchase a policy online.
6. National Mortgage Insurance
National Mortgage Insurance is a leading provider of private mortgage insurance in the United States.
The company offers a variety of PMI plans, including a basic plan with no upfront premium and an annual premium of 0.70% of the loan amount.
National Mortgage Insurance also offers a variety of discounts, including a 5% discount for autopay and a 10% discount for customers who purchase a policy online.
7. Radian Mortgage Insurance
Radian Mortgage Insurance is a leading provider of private mortgage insurance in the United States.
The company offers a variety of PMI plans, including a basic plan with no upfront premium and an annual premium of 0.75% of the loan amount.
Radian Mortgage Insurance also offers a variety of discounts, including a 5% discount for autopay and a 10% discount for customers who purchase a policy online.
8. PMI Mortgage Insurance
PMI Mortgage Insurance is a subsidiary of PMI Group, Inc., a publicly traded mortgage insurance company. PMI Mortgage Insurance offers a variety of PMI products, including lender-paid mortgage insurance and borrower-paid mortgage insurance. It also provides a 30-year level premium term policy and a 20-year level premium term policy. In addition, PMI offers a 12-Month Premium Protection Plan and a 10-Year Protection Plan for loans with less than 20 percent down.
9. United Guaranty Mortgage Insurance
United Guaranty Mortgage Insurance is a leading provider of private mortgage insurance in the United States.
The company offers a variety of PMI plans, including a basic plan with no upfront premium and an annual premium of 0.85% of the loan amount.
United Guaranty Mortgage Insurance also offers a variety of discounts, including a 5% discount for autopay and a 10% discount for customers who purchase a policy online.
10. Arch Mortgage Insurance
Arch Mortgage Insurance is a leading provider of private mortgage insurance in the United States.
The company offers a variety of PMI plans, including a basic plan with no upfront premium and an annual premium of 0.90% of the loan amount.
Arch Mortgage Insurance also offers a variety of discounts, including a 5% discount for autopay and a 10% discount for customers who purchase a policy online.
11. Quicken Loans
Quicken Loans is one of the largest mortgage lenders in the United States. They offer a variety of mortgage products, including FHA, VA, and conventional loans.
Quicken Loans also offers private mortgage insurance (PMI) on their loans. PMI is insurance that protects the lender if you default on your loan.
12. Wells Fargo
Wells Fargo is one of the oldest and largest banks in the United States. They offer many different financial products, including mortgages.
Wells Fargo offers private mortgage insurance on their loans. PMI is insurance that protects the lender if you default on your loan.
13. Chase Bank
Chase bank is one of the largest banks in the United States. They offer many different financial products, including mortgages.
Chase offers private mortgage insurance on their loans. PMI is insurance that protects the lender if you default on your loan.
14. Citibank
Citibank is one of the largest banks in the United States. They offer many different financial products, including mortgages.
Citi offers private mortgage insurance on their loans. PMI is insurance that protects the lender if you default on your loan.
15. HSBC
HSBC is one of the largest banks in the United States. They offer many different financial products, including mortgages.
HSBC offers private mortgage insurance on their loans. PMI is insurance that protects the lender if you default on your loan.
16. US Bank
US Bank is one of the largest banks in the United States. They offer many different financial products, including mortgages.
US Bank offers private mortgage insurance on their loans. PMI is insurance that protects the lender if you default on your loan.
17. SunTrust
SunTrust is one of the largest banks in the United States. They offer many different financial products, including mortgages.
SunTrust offers private mortgage insurance on their loans. PMI is insurance that protects the lender if you default on your loan.
18. PNC
PNC is one of the largest banks in the United States. They offer many different financial products, including mortgages.
PNC offers private mortgage insurance on their loans. PMI is insurance that protects the lender if you default on your loan.
19. TD Bank
TD Bank is one of the largest banks in the United States. They offer many different financial products, including mortgages.
TD Bank offers private mortgage insurance on their loans. PMI is insurance that protects the lender if you default on your loan.
20. USAA
USAA is another top lender that offers both LPMI and BPMI.
You can pay for your PMI monthly or upfront, and you can choose the type of insurance that best meets your needs.
These companies are the best of the best when it comes to private mortgage insurance. They have been in business for many years and have a proven track record of financial stability. They offer a variety of insurance products and have an excellent customer service rating.
When choosing a private mortgage insurance company, it is important to research their financial stability and customer service rating. You should also get quotes from several different companies to compare rates.
When you are ready to purchase a home, make sure you understand the terms of your mortgage insurance policy. It is important to know what is covered and what is not. You don’t want to be surprised by an unexpected bill when you are already tight on cash.
If you are unsure about anything, ask your mortgage professional or consult with a financial advisor.
We hope this article has helped you learn about the 20 best private mortgage insurance companies in 2022. If you have any questions, please feel free to contact us.
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