Home owners insurance (HOI), or Hazard Insurance, protects both you and the lender from certain events. The extent of the coverage is determined by the scope of the policy. A typical home owners insurance (HOI) package includes personal liability, property, and dwelling coverage. An example of a less common component would be flood insurance.
Not Required (Do Not Enter in Commas)
Min: 0
Max: 10
Decimals: 2
Remarks
A good "estimate" is .5% of the Purchase Price,
but a more accurate number may be obtained from a source where you are planning to buy.
Important tip: Lenders typically require the first years premium down (paid at closing). To be conservative, our Mortgage Genie™ mortgage calculator lists home owners insurance (HOI) down and monthly.
Example
If home owners insurance (HOI) is .35% enter: .35
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