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If you are taking advantage of low home prices in New York and are in the process of purchasing a home for the first time, it is important to educate yourself on the process of closing your mortgage. Once you are approved for your mortgage loan, the lender will perform a routine inspection of the home along with an appraisal to lead to escrow closing. At the time of closing, you will be required to provide proof of Home Insurance New York that is sufficient and acceptable. While some second time buyers understand the importance of quoting and binding insurance early, first time home buyers have never experienced the frustrations of closing their mortgage without acceptable insurance. To avoid delays, know what to ask your lender and how to quote your insurance to ensure you are prepared.