Is it mandatory to buy insurance with home loan from a private firm?

[himanshu19133]

I have asked them to provide it in writing. They have sent a sanctioned letter that contains special condition that is "insurance must".

[slatyb]

Yes, it is. If you don't, they will obtain insurance and you will be liable for the payments.

[Redstang88]

Here it depends on how much you have for a down payment

[Anonymous]

I wouldn't think so.

[In_Trance]

Ask your bank

[Anonymous]

I don't know