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Insurance Closing Costs


Homeowner's Insurance

This insurance covers replacement costs for damages caused by fire, wind or other disaster that might affect the value of the property. Typically, the insurance also includes personal liability and theft coverage.

Flood or Quake Insurance

Additional hazard insurance coverage that is required for homes located in a designated zone as established by the Federal Emergancy Management Agency (FEMA). As we tour houses, I will let you know if the property resides in a hazard zone.

Private Mortgage Insurance (PMI)

Insurance required for conventional loans when the borrower's down payment on the house is less than 20% of the loan.

Title Insurance

This policy protects both the buyer and lender by insuring a clear chain of title, (In other words, it insures that the person who sells the house has legal right to do so).