Do i require homeowners insurance before i complete a loan?

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Arthur Marquardt asked a question: Do i require homeowners insurance before i complete a loan?
Asked By: Arthur Marquardt
Date created: Tue, May 11, 2021 3:05 AM
Date updated: Mon, Sep 19, 2022 3:03 AM

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Video answer: Why do you need an insurance binder prior to closing?

Why do you need an insurance binder prior to closing?

Top best answers to the question «Do i require homeowners insurance before i complete a loan»

Until you pay off the loan, the lender is technically still the owner — at least in terms of fiscal responsibility… Lenders typically require homeowners to have a minimum amount of insurance, or enough to cover the balance of a mortgage loan. Additional coverage for your possessions usually isn't their concern.

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