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Home Insurance in Detroit : Real Estate Advice

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Activity 5
Fri Jun 10, 2011
Don Maclary answered:
Fri Apr 1, 2011
Donald Stevens answered:
Tenant occupied condo's are hard to get insurance quotes in any state for out of state investors. The reason I know this is because we are usually found after a very exhaustive search by the investor. We write tenant occupied condos even when they are in Detroit for out of state investors and in state investors. Give us a call at 888-438-4544 or visit our website to request a quote.

The Home Insurance Specialists
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Tue Jan 25, 2011
Anna M Brocco answered:
You may wish to ask your question again and be more specific--what information are you looking for regarding ownership--
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Fri Apr 1, 2011
Bob McClure answered:
hi....michigan basic is a good insurance co. but they are expensive..(they are in downtown detroit) .most any well known company would probably insure it...but michigan basic has the rental and investment insurance down...they are also one of the few insurance companies that will insure vacant property........best regards...bob mcclure- first preferred mortgage- southfield, michigan... ... more
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Fri Nov 6, 2009
answered:
Hi Sacha
Unfortunately a 5% down conventional loan is dependent on being able to obtain PMI, and since none of the PMI companies I know of will provide PMI on a condo with any less than 10% down you're probably out of luck, regardless of any individual lender's policies or guidelines.

You could try FHA (3.5% down), however the condo would need to be FHA approved.

Best of luck
Tony
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