GAP Insurance is designed to help individuals who have purchased a home through a mortgage from a FHA, VA, or government sponsored loan. The primary purpose of GAP Insurance is to reduce the amount of money that needs to be repaid in the event of the home being foreclosed. In order to qualify for the coverage, an individual must be a senior citizen. The GAP Insurance company will take all necessary steps to provide an individual with the best possible assistance in securing the best possible rate for their loan.
GAP Insurance was originally created in the North American real estate market. GAP Insurance protects the lender if the home is lost by paying the difference between the original loan amount and the balance owed on the loan. Because GAP Insurance insures the loan, the company can collect the entire amount of the outstanding loan at no additional cost to the individual. The additional risk is eliminated, giving the debtor peace of mind.
GAP Insurance is available on all types of loans, but typically GAP Insurance is found on the first and second lien mortgages. The company offers many different packages to fit your specific circumstances.
Some of the benefits of GAP Insurance include but are not limited to, the following. The company guarantees that your home will be paid off with your regular monthly mortgage payment; this means no interest will accrue and you will only have one monthly payment; your GAP Insurance premium will be affordable, allowing you to have affordable monthly payments; your premium does not apply to the cost of your down payment; and that your home is insured even if it is damaged by fire or vandalism.
There are several different forms of GAP Insurance available for an individual’s needs. The two most common forms are Guaranteed Asset Protection Insurance and Home Equity Replacement Insurance. Guaranteed Asset Protection Insurance protects your existing mortgage or any existing lien on your home from foreclosure by offering you a low monthly payment. Home Equity Replacement Insurance provides homeowners with cash to help them replace their existing home should they be unable to work to pay off their mortgage loan.
Some of the other benefits provided by GAP Insurance include but are not limited to, free estimates, no paperwork, free information about home loans, and assistance with closing costs. GAP also offers many mortgage calculators, which allows the homeowner to get an accurate value for their home, without having to calculate in and out the numbers.
The benefits of GAP Insurance are not limited to the home, but can also cover the vehicles, boats, recreational vehicles, boats, RVs, motorcycles, and even boats. That is financed through a mortgage. These are just some of the types of vehicles that may be covered by GAP Insurance.
GAP Insurance is offered in many different ways to suit everyone’s needs. If you are interested in purchasing any type of coverage, you should contact GAP Insurance to discuss your specific needs.
There are many companies that specialize in GAP Insurance and are available to help people obtain affordable GAP Insurance. These companies will contact you and determine the level of coverage you need and quote an affordable price to ensure your needs are met.
GAP Insurance has the added benefit of being able to offer a number of different policies that will cover multiple loans. This is important for people who have multiple loans. Because GAP Insurance works to protect your home and other property from foreclosure it can lower your overall monthly mortgage payment to an affordable level. The company will work with you and find the right level of coverage for your financial situation.
GAP Insurance has been designed to work in a streamlined fashion that will reduce the number of calls to your home insurance provider. There are less paper to file, less paperwork to fill out, and less time taken to process, resulting in a faster service.
With GAP Insurance you can get the peace of mind of knowing your home, your vehicle and other assets are protected and secured. This can be an affordable way to avoid loss or damage due to fire, vandalism, or flood. If your home is damaged or destroyed because you were not able to pay your mortgage there is no risk to your belonging
