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Is the Mortgage insurance transferable?

Featured Replies

I have a mortgage insurance on this current property.

When I sell and upgrade to another property.

Can I still keep my current mortgage insurance?

  • 1 year later...

Not sure. But certain bank do not required you to buy insurance.  Do check them out.  :):)

  • 2 months later...
On 12/15/2016 at 12:55 AM, my3rmflat said:

I have a mortgage insurance on this current property.

When I sell and upgrade to another property.

Can I still keep my current mortgage insurance?

'Yes' for private property but not for HPS in case of HDB.

Mortgage insurance premium is determined by many factors, inclusive if tenancy-in-common or joint-tenancy.

The same financial institution will 'revise' the the premium rate, term and conditions...for your new property. So, it is not 'transfer', but 'revise' simply the collateral is of difference value, your health/income/age, etc.....change over time.

  • 3 years later...

A mortgage is a service for providing funds secured for the purchase of residential or non-residential real estate. I know rocket mortgage phone number and you can call them to find out all the details and nuances of obtaining a mortgage loan.

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