Condo Master Policies vs Mortgage Requirements — What Every Condo Owner Must Know

Condo Master Policies vs Mortgage Requirements — What Every Condo Owner Must Know

Understanding how your condo’s master insurance policy connects with your mortgage lender’s requirements is essential for every condo buyer or owner. In this video, Allen Hovis, a Florida real estate broker, contractor, and insurance agent, explains how condo master policies work, what they cover, and how they differ from your personal HO6 policy.

You’ll learn:

What a condo master policy covers and what it doesn’t
How mortgage lenders evaluate insurance requirements
Why Fannie Mae and Freddie Mac guidelines matter
How to make sure your coverage meets lender standards
Tips to avoid delays or denials in your condo purchase

If you’re buying, selling, or owning a condo in Florida, this guide will help you protect your investment and stay compliant with lender and HOA rules.

Have questions? Leave them in the comments below — we may feature your topic in a future video.

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About Allen Hovis:
Allen Hovis is a Florida real estate broker, contractor, and property insurance agent helping homeowners and buyers navigate the Florida housing market with confidence.

📞 Contact Allen Hovis
Visit my website: https://www.allenhovis.com/
Phone: 941-780-6567

Don’t forget to Like, Comment, and Subscribe to Allen Hovis for more real estate and home insurance tips!

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Timestamps:
00:00 – Welcome & About the Channel
00:26 – What Is a Condo Master Policy?
00:54 – What the Master Policy Covers
01:25 – Why You Still Need an HO6 Policy
01:55 – Mortgage Lender Insurance Requirements
02:35 – Fannie Mae & Freddie Mac Coverage Standards
03:10 – How to Review Your HOA and Personal Policies
03:55 – Final Tips & Contact Information

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