关键词：home insurance/property type/HO3/HO6/HOA/MASTER/DETACHED/ATTACHED/CONDO/PUD
Title：Why do you must to buy insurance for a house while you making a mortgage？
Homeowners with a mortgage must buy home insurance.
Lenders need you to have an insurance that will protect your house in case there are catastrophic losses. They lent you money so you can buy the house and they want to make sure that if you are adequately protected when your house is damaged and that they are not exposed to losses on the loan.
What kind of home insurance should I buy?
It depends on your house is attached or detached. If you live in a condo or PUD and pay HOA fees, and your walls, ceiling and floor are connected to other houses, your house is in row(attached) need to buy HO6 insurance for your unit, Your association will buy a master insurance for the building and the common area. If your house is individually and has spaces from other houses, you can buy HO3 insurance.
AAA Lendings is a direct mortgage lender with over 20 years of lending experience. We have a group of experienced professionals providing services for home buyers and people with mortgage needs. We offer 100+ customized loan programs in conventional, FHA, VA, EZ qualified and foreigner nationalloans. We always put customer's needs first and provide the best customized solution for each customer.
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