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Mortgage glossary
Homeowners Insurance
Insurance that may cover the home, belongings, liability, or other losses listed in the policy. Coverage, limits, deductibles, and exclusions vary. A lender generally requires enough insurance while the property secures the loan.
In plain language
This term may appear in conversations, forms, or documents during the mortgage process. If something important changes in your situation, ask how it may affect your case before making a decision.
This explanation is general and educational. It is not personalized advice, a loan offer, or a promise of approval.