Mortgage insurance protects the investor or noteholder if the borrower defaults on the loan. It lowers the investor’s risk when funding a home loan. In most cases, if you pay at least 20% down on your home, you’re not required to carry mortgage insurance.

Learn how much insurance you need to cover your home and loan, and which types of insurance are required or optional for your property. Find out how to pay for insurance through your escrow account and what to do if you live in a high-risk area.

An escrow account is where funds are held to pay property tax and insurance bills on your behalf. If your loan is escrowed, a part of your mortgage payment goes into your escrow account every month.

Private mortgage insurance (PMI) protects your loan’s investor (the entity that owns the loan) in case a borrower defaults. Lenders may require private mortgage insurance if your down payment is less than 20% of the loan amount.

Homeowners (Hazard) Insurance. This is required for all mortgages to protect your home and investment and it can be paid through your escrow account. Flood Insurance. Required if you live in an area with special flood hazards and it can be paid through your escrow account. This is ...

Mortgage insurance protects the investor or noteholder if the borrower defaults on the loan. It lowers the investor’s risk when funding a home loan. In most cases, if you pay at least 20% down on your home, you’re not required to carry mortgage insurance.

Learn how to file an insurance claim, apply for mortgage assistance, and register for disaster assistance after a disas... For insurance questions, you can reach our Insurance department at 866 ⁠- 825 ⁠- 9267 or our Loss Draft department at 866⁠-825⁠-9302.

Mortgage insurance protects the investor or noteholder if the borrower defaults on the loan. It lowers the investor’s risk when funding a home loan. In most cases, if you pay at least 20% down on your home, you’re not required to carry mortgage insurance.

Flood insurance cannot be removed in certain cases when coverage is required. The escrow account must have a positive balance (no escrow advances that haven’t been repaid). If eligible, you can submit an escrow removal request from your online account.

Mortgage assistance is a general term that covers a variety of programs and solutions intended to help homeowners who are experiencing financial difficulty and having trouble making their mortgage payment.