Question: “Who do we use for homeowners insurance?” -Jackie | Braintree, MA
Answer: Your homeowners insurance policy and who you use is completely up to you, the borrower. Insurance companies have many different requirements and criteria when they come up with pricing your homeowners insurance policy. You can expect to pay the first year’s premium up front, so you have effective coverage in place for the day you close. Going forward, that expense will be paid out of your escrow account any time a bill is due.