Homeowners Insurance:

A homeowner fire and extended coverage insurance policy,  either in an amount at least equal to the total of all new mortgages on the property or 100% of the replacement cost,  will most likely be required by your lender. The lender will require you to pay for your first annual premium up front either prior to closing or at the closing to be included in your final figure. Contact your lender to confirm what they will require regarding the payment of your annual premium.   You should provide this to your lender at least 1 week before closing, otherwise it can hold up your closing date.

FLOOD  INSURANCE.   If  the  premises  is  located  within  a  specially  designated federal flood hazard area, then flood insurance will be a mandatory requirement and you’ll be required to purchase a flood insurance policy.  Your lender will notify you if this requirement pertains to you and your property before closing.