Anna, Home Buyer in Philadelphia County,...

I am a first time homebuyer with an FHA loan, am I required to have home insurance in order to settle?

Asked by Anna, Philadelphia County, PA Mon Mar 22, 2010

Do I need home insurance in order to recieve my FHA loan

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Answers

3
Yes, you will need home insurance prior to closing in order for final approval of your mortgage from underwriting. Good luck!

Jeanne Feenick
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0 votes Thank Flag Link Tue Mar 23, 2010
Even if you could get a house without insurance (which will never be a financed one) you would be unwise not to have it insured at the moment of purchase. Anything could happen. The house could even burn down before you took possession of it ( moved in). Nothing says a house can never burn down after you sign the papers and before you move into it. Stuff happens in life not all of it good.
0 votes Thank Flag Link Mon Mar 22, 2010
Yes, whenever any mortgage is involved, regardless FHA or not, home owner's insurance is always needed--contact a few insurance companies, get estimates and choose the product that best suits your need.
0 votes Thank Flag Link Mon Mar 22, 2010
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