Radian Mortgage Insurance Review

Radian Mortgage Insurance

Radian mortgage insurance can be found in different types, and the company has had some troubles in the past but has overcome these issues and is now considered one of the top companies for mortgage insurance products in the private sector. This company will not offer you a mortgage life insurance quote or try to sell you a mortgage disability policy, because they only one type of insurance and that is the type which helps you get into your home with less than twenty percent down. This is called private mortgage insurance, and it allows homeowners to buy a home with less than twenty percent as a down payment.

One of the types of Radian mortgage insurance offered is the Borrower Paid Mortgage Insurance, which can be paid for in monthly premiums or in a lump sum payment up front. The insurance premium may also be rolled into the mortgage loan in some cases. Radian is one of the mortgage insurance companies that also offers Lender Paid Mortgage Insurance as well. In this scenario the lender pays the insurance premiums, and the borrower is charged a rate that is slightly higher to account for this. Radian mortgage insurance also offers Single Financed Premium Mortgage Insurance, which allows your insurance costs to be added into your loan and paid off at a low monthly rate.

Another type of policy offered by Radian mortgage insurance is called Split Edge, and it is a hybrid plan that involves a lump sum payment up front and then monthly payment amounts until the premium is paid off. Mortgages for people with bad credit and those available to individuals with only the top credit scores can both benefit from this type of policy. You pay a specific premium amount up front, and then the balance is paid with small monthly renewable amounts. No matter which policy fits your needs best, Radian is one of the top companies where mortgage insurance is concerned.