Insurance
Title Insurance

How is title insurance calculated?

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Wiki User
2007-10-08 21:06:14

The fees for title insurance are specific to the area where the

property is located. Some states have regulated fees, other states

do not. Therefore, you need to contact your local title agency. If

you are in a non-regulated state, the rate charged is a "market

rate" meaning that most of the agencies are competitive in their

rates, but can modify the rate for each transaction. So each

transaction could be different as to what rate is charged. In

regulated states, the fees are filed by the Title Underwriting

Companies and then monitored by the State. The fees cannot vary and

discounting/overcharging is illegal. As far as the actual MATH -

most rates are based on a per $1000 rate. So, a per $1000 rate of

$3.50 on a $200,000.00 purchase would be calcuated like this:

(rate) x 200 = $700 premium Add to the PREMIUM, search charges,

endorsements required by the lender, recording fees, etc = final

Title Invoice Most agents will happily give you a quote for your

specific transaction if you simply contact them. Here is more from

WikiAnswers contributors: * I'm a mortgage broker and the closing

agents I use charge $2.50 per thousand financed for a refinance and

$3.50 per thousand financed for a purchase.


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