Additional Hazard Insurance Coverage
Requirements for 1-4 unit properties apply to similar residential properties within a Planned Unit Development (PUD) or a ground lease community.
Amount of Hazard Insurance Coverage
For first lien home mortgages on 1-4 unit properties, the hazard insurance coverage must be equal to the lesser of:
Hazard Insurance Deductible
Deductible for hazard policies must conform to investor guidelines. Deductible requirements on Jumbo loans must meet FNMA requirements.
Hazard Insurance General Specifications
A hazard insurance policy that meets the following specifications must be provided by the applicant at closing:
The following endorsements are required for PUD and condominium projects. Inflation Guard Endorsement, if available; Construction Code Endorsement, if there is a construction code provision that wo...