Mortgage Insurance vs Homeowners Insurance | First-time homebuyer series | Ep. 7

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While homeowners insurance covers you if something goes wrong with your home, mortgage insurance protects the lender if you're unable to pay your mortgage but these two things are often confused so let's discuss it!

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HI! So we were approved for an FHA loan, my lender told me that my monthly payment would be with HOI and taxes. If on my monthly payment i have insurance, do i need to pay my own insurance?

olivermartinez