My LO gave me an agent to call. I gave him all the info and he shopped 15 different companies to get me a good rate. I was very satisfied with the rate I got. He told me I would need to stop by his office prior to closing to sign the docs.
I shopped several different brokers / agents / companies and the lest expensive I found BY FAR! was through Wells Fargo Insurance Services / QBE.
The lowest quote I got before contacting Wells was $762, their rate through QBE was $463!
It was amazing they could not help me with my mortgage (long response times, poor service) but their service on the insurance side has been awesome!
I would give them a try.
We were given the option to pay when we decided on the policy or at closing. We opted to pay up front rather than at closing (just to get it done & out of the way, plus a little less out of our pocket at closing). Our lender required we OBTAIN homeowners insurance listing them as the loss payee, not just provide them with quotes as a condition to approve the loan. So I'm pretty sure you will actually have to have the policy & written proof of it. The insurance company are actually the ones that gave us the option to pay then or pay later at closing though. On a side note, we almost purchased another house a year ago, also paid up front for the insurance & when the deal fell through the insurance company immediately refunded our money.
Yes, you have to actually obtain insurance as stated above ^^^^.
The insurance binder has to be submitted to the lender in enough advance to move the file from underwriting to the closing department.
If you just provide quotes, your file won't get done.
If you are FHA and the seller is paying for your insurance at closing it is critical to get that binder to the lender as early as you can in the loan process. The lender needs the insurance written in a certain way so they are covered. Don't delay providing your insurance, then you just delay the loan process and then delay the closing.