Do I need to have insurance coverage for my mortgage?

Yes. Property insurance is required throughout the life of the loan. You’ll need to maintain an active homeowners or hazard insurance policy to remain in compliance. This coverage protects both you and Milo in the event of damage, loss, or liability tied to the property.

Depending on the property, you may also be required to carry flood insurance or windstorm coverage if the home is located in a designated hazard area. Your Milo loan consultant and the closing team will confirm exactly what’s needed during the process so you can secure the right policies before closing.

Keep in mind that insurance premiums are part of your overall cost of ownership, so it’s important to factor them into your monthly expenses alongside your mortgage payment.