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Home Insurance in Philadelphia : Real Estate Advice

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  • Home Buying1K
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Activity 8
Sat Nov 19, 2016
answered:
As long as the insurance covers 100% replacement cost of the home you can change insurance. We always do a blast to about 10 of the lowest and best insurance agents if Florida to ensure our clients are getting the most competitive insurance rates before they bind. We provide FHA/VA loans all the way down to a 580 fico. As a licensed real estate broker and mortgage broker over 10 years i can answer any questions you have throughout the process.

US Mortgage Lenders - Thomas Martin
Min Fico 580 FHA/VA Loan Approvals 7 days a week
PH: 954-667-9110
http://www.florida-mortgage-lenders.com/
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Fri May 20, 2016
Paul answered:
I find using InBedrock.com helps me to navigate all the financial costs of purchasing a home. It is very educational, informative and easy to use.
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Mon Mar 31, 2014
Hilary Lefkowitz-Karaman answered:
Hi Malita,

A lot of insurers and underwriters do not want or understand how to insure flat roofs. This has been a common problem I have run into over and over again. I know clients have found reasonable rates with both State Farm and Travelers.

Hope that helps!

Hilary

Hilary Lefkowitz Karaman
REALTOR
Investment Specialist
Director's Club

Weichert, Realtors
93 Old York Road, Ste 6
Jenkintown, Pa 19046
215-885-8100 (office)
215-919-7497 (mobile)
215-885-3834 (fax)
hilaryle@gmail.com
RE License: RS318196
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Sun Mar 30, 2014
Sean Mooney answered:
Phong -
It is very common for insurance companies to require roof certifications for flat roof homes in this area. They are looking to identify 2 major things- the type of roof and the age of the roof. Some insurance carriers will extend or exclude coverage based on the type of roof covering. The life expectancy for a hot tar roof is only about 5 years or so and the insurance company doesn't want to extend coverage for a roof that wasn't properly maintained. The other types like a rubberized bitumen or a silvercoat covering can last sometimes last over 20 years which decreases the likelihood of a claim occurring. And if a reputable roofer installed the roof it will normally come with a warranty that could could last the life of the roof. ... more
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Tue Apr 27, 2010
Ken Carlson answered:
Not only should you have home owners insurance when you go to close, it is a good idea to obtain a specific quote when you have an accepted offer. That could reveal previous claims that may effect your decision to accept or waive the inspection contingency. ... more
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Wed Mar 24, 2010
Gerard Dunn answered:
Yes, you will need to have insurance in order to settle.

All lenders - FHA, VA and Conventional will require insurance with them as the loss payee.

You will need a receipt an declaration page to prove insurance to your lender before they will release papers.

Good Luck!

http://www.trulia.com/voices/Home_Insurance/First_time_buyer…
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Tue Mar 23, 2010
Jeanne Feenick answered:
Yes, you will need home insurance prior to closing in order for final approval of your mortgage from underwriting. Good luck!

Jeanne Feenick
Unwavering Commitment to Service
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