Question on DSCR Ratio

[Shelby Elder]

I'm a newer investor and just did my first refi on a rental property. The numbers were tight to make it fit the DSCR ratio and even though I had an insurance guy picked out, my lender said it needed to be a little bit lower so he set me up with a different insurance policy in order to get the loan to close. Now that I have the loan, am I able to switch over to another insurance policy even if it puts the ratio over slightly? Basically my question is does a lender actively monitor things like taxes and insurance after the loan has closed to make sure it still fits their standards?

[Shelby Elder]

Hey @Brian Cauldwell, thanks for the response! The annual difference was only about $150. The new policy has a deductible that is triple the amount of the one I was originally going to go with and the broker has been very hard to get ahold of and unable to provide me proof of insurance or any details and I closed about 5 weeks ago

I am just starting to get a bad feeling about working with him. It was a broker and there was no policy number listed or mention of what company my policy is with. I think I would rather just pay an extra $150 for the year and have someone that I can rely on to get ahold of. Again this is my first DSCR loan and rental property so am open to suggestions!