Another Way Federal Title Saves Homebuyers Money

Title insurance premiums in the DC area have increased substantially over the past decade such that an owner’s title insurance policy for a $1 million District of Columbia property can cost you as much as $5,000.00.  To reduce this pricey closing cost item, Federal Title has partnered with underwriters who make nearly all properties in the District of Columbia and Maryland eligible for a title insurance reissue rate.  Just an example of another way Federal Title saves homebuyers money.

What is the title insurance reissue rate?

When a property’s title has been previously insured by a reputable title insurance company, the homebuyer to be insured is entitled to a “reissue rate,” or 40% reduction on the current published rates, up to the face amount of the previous policy.

Until recently, the reissue rate was restricted only to properties which had been previously insured within the last 10 years.  Now, there is no longer a time restriction which means that nearly all properties we close in the District of Columbia and Maryland are eligible for a reduction in the owner’s title insurance premium.

As a result of this change, Federal Title is able to provide most of the homebuyers we serve with a substantially reduced owner’s title insurance premium.  For example, on a recent District of Columbia transaction we closed earlier this week, the property had previously been insured in 2007 for $785,000 and, as a result, Federal Title was able to provide the reissue rate and the homebuyers were able to reduce the cost of their owner’s title insurance premium by $1,911.60.

As always, we stress the importance of shopping around when it comes time for selecting your title company.

Find out why other title companies don’t want to give you a reissue rate here.

Visit our Quick Quote page to get an anonymous guaranteed quote for services.

Todd Ewing

Todd Ewing is an entrepreneur and attorney. After receiving his law degree from Drake University, Ewing left his home state of Iowa for opportunity in the Capital Region.He launched Federal Title & Escrow Company in 1996. The company that began on a piece of plywood strewn across a couple of sawhorses in a tiny office in Tenleytown had a unique premise: Give back to homebuyers what other title companies kick back to their referral sources.The innovative REALCredit™ distinguished Federal Title from its competitors and helped move Federal Title to the top echelon of independent title companies in the United States.A perennial trail blazer, over the years Ewing has also introduced one of the title industry’s first paperless closing workflows and a mobile app known as Close It! that was first to pinpoint for buyers, sellers and agents exactly how much cash would traverse the closing table during settlement.Ewing is an active outdoorsman who enjoys golf as well as hunting and fishing.

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