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Updated 5 months ago on . Most recent reply

User Stats

5
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1
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Loan on uninsured investment property

Posted

Is it possible to get a loans on a paid off investment property that does not have  homeowners insurance?

If it is, please name the lender that does it?

thank you in advance for your answer

Most Popular Reply

User Stats

49
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31
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Earl White
  • Attorney
  • Rutherford, NJ
31
Votes |
49
Posts
Earl White
  • Attorney
  • Rutherford, NJ
Replied

I highly doubt any institutional lender, big or small, will provide a loan without insurance. It is a written requirement in every mortgage I've ever seen. Also - you probably wouldn't want to close on the property without insurance as you would also lack protection.

What is the reason you can't secure insurance? The better question is to figure out how to get insurance and resolving the reason that is preventing it.

  • Earl White
  • [email protected]
  • (201) 389-8275
  • Loading replies...