[Bim A]

the lender has given us a computation of our would-be monthly? payment. they included a monthly insurance payment worth $70.00 which is way too much for the condo unit that we are purchasing. It is 501 sq.f. and everything about the exterior (maintenance etc) including insurance is included in our HOA dues which amounts to $220. We informed our lender about the insurance being included in the HOA dues but they still added the $70. insurance in their computation. Can we choose our own insurance provider to insure the inside of our condo unit or are we tied up with what our lender decides for us?Here in AK, our friend's home is 2000 sq.f. but his monthly insurance payment is only $50.00 and it covers not only the interior but also the interior of his single detached home. Please share your opinions and i would be grateful for any professional input regarding this situation. THANK YOU SO MUCH!hello, we got conventional loan. i am wondering, is this kind of insurance not required to close the deal? our closing date is may 22. because prior to moving in, we plan to do a lot of renovations and it may take a couple of months. we do intend to get insurance but would prefer to do so after the renovations. thank you!