Mortgage Credit Life Insurance

What is a mortgage credit life insurance policy?

It's an insurance plan that protects your lender in case you pass away before your home mortgage loan is repaid.

Some lenders may require a home buyer to take our credit life insurance if the home buyer is putting down less than 20% to buy the home and take out the mortgage loan.

Keep in mind, once you have 20% ownership in the home, you may not have to continue carrying the credit life insurance eon your home mortgage.

Learn more about how mortgage credit life insurance works.