What kind of property insurance do I need to work with Point?

Before closing, you'll need to provide proof of an active homeowner’s insurance policy that provides adequate dwelling coverage for your property. The policy must remain active throughout the life of your Home Equity Investment. Once you accept your final offer, your assigned subservicer will need to be listed on the policy.

Here’s what we ask for:

Paid-in-full coverage

If your Evidence of Insurance shows a “balance due,” or if your policy is up for renewal within 30 days and premiums are unpaid, we’ll need proof that you’ve paid in full, or are current on a payment plan (renewal policies need at least 1st payment made on payment plan).

If you can’t pay directly, we can advance the premium with Point funds at closing—with your authorization.

Flood insurance (if applicable)

If your property (including any dwelling, structure, or improvement) sits in a federally designated {{glossary.Special Flood Hazard Area (SFHA)}}, or in a Coastal Barrier Resources System/Otherwise Protected Area, you must carry a flood policy that meets federal requirements.

{{glossary.PUD}}, condo and townhouse units

Individually-insured units (HO-6): If each unit owner maintains their own HO-6, we don’t require master-policy review. No individual HO-6: We’ll need a copy of the HOA’s master property policy covering both common elements and your interior improvements.

Please let us know if you need help confirming coverage or arranging payment we're happy to guide you through the process.