I thought I had asked this question, but it did not appear in my history. My home in California was a total loss after a fire in January 2025. I have the California Fair Plan, and I am purchasing a replacement home. I would like to use my Ordinance Coverage towards the down payment on my replacement property. However, the CFP is saying they will only apply my Ordinance Coverage to my closing costs.
Can they restrict what I use my Ordinance Coverage for when purchasing a replacement home? Is there and good documentation I can provide to CFP? Or are there any professionals I can use to help resolve this issue? Thank you for your help!