Indeed, required for closing. Homeowner's insurance is holding me up this week (scheduled to close Friday). The original new company I planned to go with rejected my application yesterday, so I have to pay more with the state gov't plan, my only other option. So, I also have to go thru underwriting again, GRRR, with the new monthly housing expense, that includes this insurance rate.
Don't go uninsured. Lots of people here too have learned their lessons the hard way. Your individual rates will depend on the value of your home, your loan, and where you live. Lucky me, ha, in suburban New Orleans post-Katrina.....I get to pay thousands each year for homeowners and flood. And if you look at all the spring flooding this year, well, you know flooding can happen anywhere. Homeowners won't pay a dime for flooding.
FICOs
04/08/08 TU 761 EQ 740 EX 756
Closed on my first mortgage on 4/25/2008!!!
05/18/08 TU 771 EQ 740 EX 756
08/18/08 TU 749 EQ776 EX 768
I never have real credit card debt, just the 1-9% for reporting purposes!!!