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Reasons You Need an Insurance Binder and How to Get One

October 24, 2023 by Rilian Ball Leave a Comment

When a borrower applies for a mortgage loan, the lender typically requires proof of insurance coverage before they approve the loan. An insurance binder is a document issued by the insurance company that provides temporary proof of insurance coverage until the official insurance policy is issued. The insurance binder for mortgage loans will typically include information about the property being insured, the coverage limits, and the effective date of the policy. The lender will review the … [Read more...]

Filed Under: Mortgage Tagged With: Insurance Binder, Mortgage Insurance, Premiums

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Rilian Ball


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Rilian Ball
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