Closing Process & Title Insurance
The closing process can be can be tricky, whether you're purchasing your first home or your fifth, and knowing what to expect when you close on your new house can reduce the anxiety that can come with the home buying process. If you`ve done your homework and understand the costs associated with buying and protecting your home, it will not only ease your stress- it can also save you money.
At home closing 101 you will find the information you need to prepare yourself for closing day. By becoming familiar with topics such as title insurance, escrow fees and closing costs - when the time comes to sign on the dotted line, there won`t be any unwelcome surprises. Instead of worrying, you can focus on the more important things ... like who to invite to your housewarming party.
Title Insurance Premiums
Owners policies are issued for the full value of the property including encumbrances.
Loan policies are issued for not less than the amount of the loan.
A commitment to ensure is issued for $ 100.00.
Owner`s Policies Reissue Rates. If the property has been previously insured under an owner`s or leasehold owner`s policy, the reissue schedule is:
Age OF Previous Owner`s/ Leasehold Owner`s policy Percentage Of Basic Premium Rates
1 Year or less 75 %
More than a year but less than 2 years 80 %
2 years or more but less than 3 years 85 %
3 years or more 90 %
If more insurance is desired or required under the reissue policy than was written in the original policy, the additional coverage is computed at the Basic Premium Rate in the applicable bracket or brackets. The rate for a loan policy simultaneously issued with an owner`s policy will be $ 30.00 provided the amount of insurance in the loan policy does not exceed the owner`s policy liability amount. Construction loan policies are issued for $ 30.00 plus $ 1.00 per thousand of liability. For rates on Substation Loans (Refinance), Second Mortgages or Subsequent Issues please contact us.
Click below for the title insurance premium charts:
Place an Order
Please fill out the contact information below. We will contact you soon about placing your order for Title Insurance and answering any questions you have.