Tag Archives: home owners insurance

Is my house in the floodplain?

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searchFEMA has maps for you to check if your property is in a floodplain. Follow the link to City of Victoria Development Services.

Some properties that were in the floodplain have been removed due to the work by the Lone Tree Creek Channel Improvement that was completed in 2009. Use the maps as a guide but you will want to check with the City of Victoria to verify if your property is in the floodplain and requires flood insurance.

If you would like Rick and Sharon to meet with you to discuss buying or selling a home please call 361-433-0520. Or email rick@gcrtx.com or sharon@gcrtx.com. Ask about our Educator Incentive Program. Try our Property Search to find houses with up-to-date information. Like us on Facebook!

Credit Score and Insurance Premium

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credit_cardMany things are affected by your credit score including the amount an insurance company will charge you. They will check your credit report and if you have a low credit score you might end up paying a higher premium. Your credit score does matter for a lot of different reasons.

If you would like Rick and Sharon to meet with you to discuss buying or selling a home please call 361-433-0520. Or email rick@gcrtx.com or sharon@gcrtx.com. Ask about our Educator Incentive Program. Try our Property Search to find houses with up-to-date information. Like us on Facebook!

Floodplain Information

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water_seaYou can access the floodplain maps released by FEMA at the following website: City of Victoria Development Services

The Lone Tree Creek Channel Improvement was completed in 2009 and consisted of improving the drainage channel from John Stockbauer to Airline. The project was estimated to remove approximately 400 properties from the floodplain. Use the maps as a guide but you will want to check with the City of Victoria to verify if your property is in the floodplain and requires flood insurance.

If you would like Rick and Sharon to meet with you to discuss buying or selling a home please call 361-433-0520. Or email rick@gcrtx.com or sharon@gcrtx.com. Ask about our Educator Incentive Program. Try our Property Search to find houses with up-to-date information.

Mortgage Escrow Account

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A mortgage escrow account concerns the homeowner and the lender. Part of the mortgage loan agreement is for the homeowner to pay their property taxes on time and to purchase homeowners insurance. Your monthly mortgage payment includes principal, interest, taxes and insurance. Each month you are setting aside, or escrowing, the funds your lender will use to pay your yearly taxes and home insurance when due. An escrow account gives added assurance to your lender that your taxes and insurance will be paid on time. As the homeowner, an escrow account provides a way for you to set aside a little each month, as part of your mortgage payment, instead of having to come up with a large amount of money when taxes and insurance are due.

If you would like Rick and Sharon to meet with you to discuss buying or selling a home please call 361-433-0520. Or email rick@gcrtx.com or sharon@gcrtx.com. Ask about our Educator Incentive Program. Try our Property Search to find houses with up-to-date information.

Cost of Home Owners Insurance

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Your mortgage payment will include principal, interest, taxes and insurance. To get a estimate of what home owners insurance will cost you for the year you can use this simple strategy. Choose a property in the price range and neighborhood you want to live and call your insurance agent and ask for an estimate. You could also shop several insurance companies to compare rates and coverage.  You won’t be under any obligation to purchase the insurance but you will have a good idea of the cost as you calculate your monthly mortgage payment.

If you would like Rick and Sharon to meet with you to discuss buying or selling a home please call 361-433-0520. Or email rick@gcrtx.com or sharon@gcrtx.com . Ask about our Educator Incentive Program. Try our Property Search to find houses with up-to-date information.