CALCULATING THE COST OF TITLE INSURANCE
STANDARD LENDER’S TITLE INSURANCE
FIRST $250,000 $2.90 PER THOUSAND
AMOUNT OVER $250,000 AND UP TO $500,000 $2.70 PER THOUSAND
AMOUNT OVER $500,000 AND UP TO $1,000,000 $2.40 PER THOUSAND
AMOUNT OVER $1,000,000 AND UP TO $5,000,000 $1.25 PER THOUSAND
AMOUNT OVER $5,000,000 $1.10 PER THOUSAND
EXAMPLE: FOR A LOAN OF $445,000.00
250 X $2.90 = $725.00
195 X $2.70 = $526.50
Total $1,251.50 cost for lenders title insurance
STANDARD OWNER’S TITLE INSURANCE
FIRST $250,000 $3.90 PER THOUSAND
AMOUNT OVER $250,000 AND UP TO $500,000 $3.70 PER THOUSAND
AMOUNT OVER $500,000 AND UP TO $1,000,000 $3.40 PER THOUSAND
AMOUNT OVER $1,000,000 AND UP TO $5,000,000 $2.25 PER THOUSAND
AMOUNT OVER $5,000,000 $2.10 PER THOUSAND
EXAMPLE: HOUSE PRICE $445,000.00
250 X $3.90 = $975.00
195 X $3.70 = $721.50
Plus *$150.00 (Simultaneous Issue Fee)
Sub Total $1,846.50 (Cost for Owner’s and Lenders)
Less Lenders $1,251.50
$595.00 (Additional cost for owners title insurance)
ENHANCED (EAGLE) OWNER’S TITLE INSURANCE
FIRST $250,000 $4.68 PER THOUSAND
AMOUNT OVER $250,000 AND UP TO $500,000 $4.44 PER THOUSAND
AMOUNT OVER $500,000 AND UP TO $1,000,000 $4.08 PER THOUSAND
AMOUNT OVER $1,000,000 AND UP TO $5,000,000 $2.70 PER THOUSAND
AMOUNT OVER $5,000,000 $2.52 PER THOUSAND
EXAMPLE: HOUSE PRICE $445,000.00
250 X $4.68 = $1170.00
195 X $4.44 = $ 865.80
$ 150.00 (Simultaneous Issue Fee)
Sub Total $2,185.80 (Cost or Owner’s and Lenders)
Less Lenders $1,251.50
$ 934.30 (Additional cost for Enhanced Eagle owners)
REFINANCE LENDER RATES
FIRST $250,000 $2.03 PER THOUSAND
AMOUNT OVER $250,000 AND UP TO $500,000 $1.89 PER THOUSAND
AMOUNT OVER $500,000 AND UP TO $1,000,000 $1.68 PER THOUSAND
AMOUNT OVER $1,000,000 AND UP TO $5,000,000 $.88 PER THOUSAND
AMOUNT OVER $5,000,000 $.77 PER THOUSAND
EXAMPLE: LOAN OF $445,000.00
250 X $2.03 = $507.50
195 X $1.89 = $368.55
Total $ 876.05 cost for lenders title insurance on refinance
CONSTRUCTION LOANS/SPECIAL RISK PREMIUM
Construction loans constitute a special risk subject to approval and acceptance of the underwriter (First American Title Insurance Company).
MODIFICATION ENDORSEMENTS
Modifications of existing loans which require an endorsement to the existing mortgagee policy without increasing the loan amount can be issued for a premium of 30% of the original premium paid. Modifications of existing loans which require an endorsement to the existing policy and increase the loan amount can be issued for a premium of 30% of the original premium paid with an additional premium for the increased amount. This additional premium is calculated at the appropriate tier in which the increase falls.
NOTE: * When one or more mortgagee policies are issued simultaneously with an owner’s policy, the rate for the mortgagee policy issued is $150.00 each. When additional coverage is needed for the mortgagee policy, the premium shall be computed at the original mortgagee title insurance rate under the applicable bracket. Policies simultaneously issued must cover identical land.