Mortgage Company Wants Us to Pay Hazard Insurance Premium Up Front?

Tips and Deals Forums Home Insurance Mortgage Company Wants Us to Pay Hazard Insurance Premium Up Front?

This topic contains 0 replies, has 1 voice, and was last updated by  Anonymous 7 years, 3 months ago.

  • Author
    Posts
  • #385634

    Anonymous

    I am getting an FHA home loan. My mortgage company sent me a good faith estimate stating that my hazard insurance premium will be included in closing costs, but that I will also be paying a monthly hazard insurance payment, the same goes for the mortgage insurance. They are also wanting us to put $ 591 into hazard insurance reserves. What is this all about? Is this normal? I was pretty positive that when you got insurance you just paid your premium monthly, not up front and then monthly also?

    Help me understand what is going on here.

You must be logged in to reply to this topic.

Register New Account
Reset Password