Residential Loans and Condo Insurance

bedroomAccording to the homeowners Association or HOA, paying your monthly condo insurance does not cover the entire replacement project you’re going to make in your condo unit such as reconstructing cabinets, counter top and floorings. These  housing projects will not be covered if the insurance policy is not in place.

However, with regard to residential loans, you can not use the said mortgage for mixed-used property because the finance wasn’t intended for such purpos. If you own a retail store below your house, it automatically qualifies as mixed-used property.

For more information about condo insurance and residential loan, click here.

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