Insurance is one of the Recurring Closing Costs or Prepaid Items paid in your closing costs. This insurance includes Home Owner’s Insurance/Fire Insurance/Hazard Insurance (three terms for the same exact thing) and in some cases, Private Mortgage Insurance (PMI).
About the Author: Viral "Vic" Joshi
Viral (pronounced like "virile") "Vic" Joshi is an independent California Home loan expert and licensed real estate agent who has been guiding home buyers through the mortgage loan process for over 20 years. Vic is an agent with the Straight Deal Mortgage, offering preferred access to virtually any mortgage loan product available. He is a proud San Francisco Bay Area native, a certified Rescue Scuba Diver and a loyal Warriors fan. Learn more about Vic here or connect on LinkedIn.