Owner financed our house and buyers had small wind damage insurance claims in 2008 & 2009 on their previous house. State Farm Ins will not write insurance for new business if they have had any claims in 3 years.
We want to purchase private mortgage, etc insurance to cover the loan amount of $128K. The house is 3,000 sf with brick veneer exterior. Owners are doing extensive remodeling and adding bedrooms upstairs to increase the sf by around 2000 sf.
Who sell Private Mortgage Insurance, etc for owner financing.
Owner financed our house and buyers had small wind damage insurance claims in 2008 & 2009 on their previous house. State Farm Ins will not write insurance for new business if they have had any claims in 3 years.
We want to purchase private mortgage, etc insurance to cover the loan amount of $128K. The house is 3,000 sf with brick veneer exterior. Owners are doing extensive remodeling and adding bedrooms upstairs to increase the sf by around 2000 sf.
Who sell Private Mortgage Insurance, etc for owner financing.
Thank you, Deborah
Hi Deborah,
As far as I know, you can not get PMI to cover seller carry back notes.
If you find a company willing to do it, let me know! It would be helpful info for a lot of people.
Best wishes,
Dawn