Protect Your Home: Homeowners Insurance & Home Warranty

Aug 09, 2017

Protect Your Home: Homeowners Insurance & Home Warranty

Protect Your Home:
Homeowners Insurance
& Home Warranty

Purchasing a home is one of the biggest investments you will make, and protecting your assets is a must! The best way to do this is to have both a homeowners insurance policy and a home warranty. Having both of these will ensure that your home and everything in it are covered in case they need to be replaced or repaired. By understanding the two products, you will know why having both is important.

Homeowners Insurance

A homeowners insurance policy protects you and your home from loss due to disasters and accidents spelled out in your policy. It will cover your home’s exterior and interior as well as personal belongings. If you have taken out a mortgage loan or in the process of doing so, chances are you will be required to have homeowners insurance to protect your interest and the lender’s.

Damage causing events that homeowners insurance may cover include:
Fire, Theft, Floods, Vandalism, Accidents, Earthquakes, Winds

Home Warranty

A Home Warranty helps with costs when the expensive but important systems and appliances in your home need replacing or repair due to age or wear and tear. Home warranties typically have 12-month contract terms. The warranty is not mandatory to obtain a mortgage, but we highly recommend you consider it.

Items covered by the home warranty may include:
AC units, Heaters, Plumbing, Pools, Dishwashers, Electrical wiring, Garage door openers, Smoke detectors

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Mortgage Investors Group, based in Tennessee, offers residential financing in a number of states in the southeast, See MIG Service Areas. Terms and conditions to apply to home financing. We want to share with you the loan terms vary based on several characteristics and your financial profile. These include but are not limited to loan program, loan purpose, occupancy, credit history, credit score, assets, and other criteria per loan type. The repayment terms and interest rate may vary from time to time. The terms represented here are based on certain assumptions outlined below and/or noted on the loan outline page. Additional details concerning privacy, program disclosures, licensing specifics may be found at migonline.com Legal Information.

MIG Loan Officers will help gather the information needed for an individual assessment to provide home financing which matches the loan characteristics with your home financing needs based on your financial profile, when you are ready to begin a full loan application. For estimates and general information before that step, the basis for which the mortgage financing information are as follows:

Rates are subject to change at any time.
Rate locks are available at current terms for 30 to 180 days based on program type, credit profile, property location, etc. which will affect the available rate and term.
Rate locks are available at current terms for 30 to 180 days based on program type, credit profile, property location, etc. which will affect the available rate and term.
Payments will vary based on program selection, current rates, property location, etc.
Not all programs are available in all states.
Some loan programs may not be available to first time home buyers.
Terms and conditions apply, which may include restrictions or limits per loan program.
Information is generally based on primary residence occupancy with no cash out when refinancing.
Unless otherwise stated, terms shown are estimates based in part on credit score of 700 or higher; owner occupancy, escrow account is established for taxes and insurance(s); debt-to-income ratio no higher than 43.0%; PMI applies to conventional loan programs over 80.0% LTV; VA,FHA & RD require insuring fees included in loan and/or payment; fixed rate, 30 year term.

An MIG Loan Officer is available to help with your financial details to determine which characteristics apply to your situation for a personalized look into which loan program best fits your home financing needs. Please use the Find a Loan Officer link or reach out to Mortgage Investors Group at 800-489-8910. Equal Housing Lender 1.2020

LEGAL & CONSUMER INFORMATION
NMLS #34391 - TN License # 109111 See the NMLS consumer access page

Mortgage Investors Group.

Equal Opportunity Lender

Mortgage Investors Group.