5 Common Misconceptions About Home Loan Insurance

Myth #1: For Low Credit Only

Home loan insurance is not just for low credit individuals; it offers financial security for all borrowers, irrespective of credit history.

Myth #2: Wasted Expense?

Contrary to belief, home loan insurance is a crucial safety net, protecting your investment from unexpected events and ensuring financial stability.

Myth #3: Home vs. Homeowner's Insurance

Understand the distinction between home loan insurance and homeowner's insurance, with the former safeguarding your mortgage, not property damage.

Myth #4: Benefits Both Parties

Home loan insurance doesn't just benefit lenders but also provides essential financial assistance to borrowers during challenging times, ensuring peace of mind.

Myth #5: Optional Protection

Dispelling the misconception that home loan insurance is mandatory, empowering borrowers to choose protection levels that best suit their individual needs.