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There are no "requirements" as in you are required to get it unless you mean Private Mortgage Insurance. 2 different things.
I'll assume that you mean mortgage insurance since that is how your question is phrased. The requirement for mortgage insurance is set by the lender at the time you originate your loan. If it is required to get approval for your financing, then it is not optional. In the state of Nebraska you can ask that the MI be cancelled once you have paid your mortgage down to 80% based on the original value of the property or when you can show that the property has appreciated enough to show a current loan to value of 78% through appreciation.
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How do I know if I have Mortgage insurance?
i have mortgage and homeowner insurance and fidc risk insurance
Who benefits from a mortgage insurance claim?
The real beneficiary from a mortgage insurance claim is ultimately the insurance company that provided you with the mortgage insurance in the first place.
Is mortgage protection insurance necessary to have?
Yes and no, mortgage protection insurance is necessary to have. According to the Private Mortgage Insurance Law lenders who put less than a 20 percent down payment on there loans are required to pay private mortgage insurance or mortgage protection insurance.
How long are you required to have mortgage insurance?
You will need mortgage insurance as long as you still have a balance to pay on your mortgage, so in essence for as long as you have a mortgage.
Where can you get mortgage insurance quotes?
You can contact an insurance agent in your local yellow pages to request quotes, or use an online mortgage insurance quote provider that has access to a network of insurers to provide you with quotes. Most mortgage insurance companies have online mortgage insurance calculators. Google mortgage insurance calculator along with the name of the mortgage insurance provider (i.e. Radian, RMIC, United Guarantee, Genworth, etc.)
What are the requirements for contents insurance in the UK?
The requirements for contents insurance in the UK with vary. In the case of ownership, the requirements depend on the specific mortgage provider. In rentals, the landlord sets the requirements.
Do you have to get insurance if you pay cash for a house?
No. If there are no mortgage requirements that you carry insurance then it is completely up to the home owner.
How do I apply for a mortgage on my home in Lincoln, Nebraska?
You can apply for a mortgage on your home in Lincoln, Nebraska at www.leadsteps.com/Nebraska/Lincoln/mortgage-refinance.html. Another site is realestate.yahoo.com/Nebraska/Lincoln
What are Nebraska's car insurance requirements?
Yes, there is a state law that requires you to carry proof of insurance while you are driving there. This is a common law in all states.
How do I know if I have Mortgage insurance?
i have mortgage and homeowner insurance and fidc risk insurance
Who benefits from a mortgage insurance claim?
The real beneficiary from a mortgage insurance claim is ultimately the insurance company that provided you with the mortgage insurance in the first place.
Does homeowners insurance pay off your mortgage if one of the homeowners dies?
No. For that kind of benefit you need mortgage insurance or a life insurance policy.No. For that kind of benefit you need mortgage insurance or a life insurance policy.No. For that kind of benefit you need mortgage insurance or a life insurance policy.No. For that kind of benefit you need mortgage insurance or a life insurance policy.
Will homeowner's mortgage insurance pay for failing drainage pipes under foundation?
Mortgage InsuranceNo, Mortgage Insurance is NOT Homeowners Insurance. Mortgage Insurance does not cover your home at all.Mortgage Insurance covers your finance note, not your home.
Is mortgage protection insurance necessary to have?
Yes and no, mortgage protection insurance is necessary to have. According to the Private Mortgage Insurance Law lenders who put less than a 20 percent down payment on there loans are required to pay private mortgage insurance or mortgage protection insurance.
What is DE underwriting ?
A Direct Endorsement (DE) underwriter's basic responsibility is to review/certify mortgage loan origination documents for compliance with the requirements of the Federal Housing Administration's mortgage insurance program.
How long are you required to have mortgage insurance?
You will need mortgage insurance as long as you still have a balance to pay on your mortgage, so in essence for as long as you have a mortgage.
What are the requirements for one to get Ameriquest Mortgage?
Ameriquest Mortgage has been bought out by Citigroup. The requirements for a mortgage through Citigroup are household income, duration of mortgage, and credit score.
