When should a home buyer obtain a home insurance quote once their offer has been accepted? Should it be right away, before the inspection, after the inspection, or before closing?
Rising home prices in the Dallas / Fort Worth area mean larger mortgages in most cases which raises an interesting question, “How much home insurance is needed when you buy a home?” Stated another way, should the amount of home insurance be equal to the purchase price, the loan value, or some other number?
The spring buying season started early this year. February felt as busy as any April, May, or June, I’ve ever experienced, and it should only grow as we move into the prime spring buying season. I believe it’s a perfect time to look at how home insurance can impact home buyers when purchasing a new home.
Credit has become more important than ever before. We are all judged by what people read about us on paper. Why should individuals care about what is on their credit report, and does it really matter?
I received a call from a mortgage loan officer in Dallas a few weeks ago. She was working with a couple who was buying a duplex but had not yet obtained insurance. The loan officer wondered if we could help the couple as the purchase was scheduled to close in a couple of days.
This past week I helped a new client with condo insurance for his new home. The condo is in a high rise condominium tower located in the Turtle Creek area of Dallas. It’s beautiful and the view is amazing. He’s very excited and has been wonderful to work with. There was one little issue we had to work through involving the amount of insurance for his new home and what the mortgage underwriters would approve. It was an interesting conundrum.
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