Click on a jurisdiction below to review title insurance policy premiums associated with the refinance of a loan for a residential property.

District of Columbia

Lender’s Policy

The lender’s policy is also known as a “loan policy” and is required for all transactions, purchases and refinances alike, since lenders must also protect against title related defects.

A lender wants to ensure that the loan they are issuing is protected by title insurance and their investment is covered. A lender’s policy protects the mortgage holder (the institution that owns the mortgage).

If there is a fault in title that results in a loss, the mortgage holder will be paid back. You will need to order a new lender’s policy to refinance your property.

READ MORE: WHY LENDERS REQUIRE TITLE INSURANCE

Refinance Policy
(minimum premium $101)

Amount of Insurance Cost Factor Plus On Amount Over
Up to $250k $2.70/$1k
$250,001 to $500,000 $675.00 $2.34/$1k $250k
$500,001 to $1 million $1,260.00 $1.98/$1k $500k
$1,000,001 to $5 million $2,250.00 $1.62/$1k $1 million
$5 million+ $8,730.00 $0.75/$1k $5 million

NOTE: When calculating the cost of a policy, please keep in mind we use a tiered rate. So if the refinancing amount is $600k and a lender’stitle policy is purchased, the cost is calculated by multiplying:

250 x $2.70 = $675
250 x $2.34 = $585
100 x $1.98 = $198
Grand Total = $1,458

Maryland

Lender’s Policy

The lender’s policy is also known as a “loan policy” and is required for all transactions, purchases and refinances alike, since lenders must also protect against title related defects.

A lender wants to ensure that the loan they are issuing is protected by title insurance and their investment is covered. A lender’s policy protects the mortgage holder (the institution that owns the mortgage).

If there is a fault in title that results in a loss, the mortgage holder will be paid back. You will need to order a new lender’s policy to refinance your property.

READ MORE: WHY LENDERS REQUIRE TITLE INSURANCE

Refinance Policy
(minimum premium $168)

Amount of Insurance Cost Factor Plus On Amount Over
Up to $250k $2.65/$1k
$250,001 to $500,000 $662.50 $2.25/$1k $250k
$500,001 to $1 million $1,225.00 $1.90/$1k $500k
$1,000,001 to $5 million $2,175.00 $1.60/$1k $1 million
$5 million to $15 million $6,400.00 $1.30/$1k $5 million
$15 million+ $19,400 $1.00/$1k $15 million

WE OFFER AN ENHANCED LENDER’S TITLE POLICY UPON REQUEST.
E-MAIL INFO@FEDERALTITLE.COM TO INQUIRE.

NOTE: When calculating the cost of a policy, please keep in mind we use a tiered rate. So if the price is $600k and a limited lender’s title policy is purchased, the cost is calculated by multiplying:

250 x $2.65 = $662.50
250 x $1.90 = $475.00
100 x $1.90 = $190.00
Grand Total = $1,327.50

Virginia

Lender’s Policy

The lender’s policy is also known as a “loan policy” and is required for all transactions, purchases and refinances alike, since lenders must also protect against title related defects.

A lender wants to ensure that the loan they are issuing is protected by title insurance and their investment is covered. A lender’s policy protects the mortgage holder (the institution that owns the mortgage).

If there is a fault in title that results in a loss, the mortgage holder will be paid back. You will need to order a new lender’s policy to refinance your property.

READ MORE: WHY LENDERS REQUIRE TITLE INSURANCE

Refinance Policy
(minimum premium $100)

Amount of Insurance Cost Factor Plus On Amount Over
Up to $250k $2.73/$1k
$250,001 to $500,000 $726.00 $2.59/$1k $100k
$500,001 to $1 million $1,400.00 $2.38/$1k $500k
$1,000,001 to $5 million $2,600.00 $1.58/$1k $1 million
$5 million+ $7,600.00 $1.47/$1k $5 million

NOTE: When calculating the cost of a policy, please keep in mind we use a tiered rate. So if the loan is $600k and a lender’s title policy is purchased, the cost is calculated by multiplying:

250 x $2.73 = $273.00
250 x $2.59 = $1,036.00
100 x $4.50 = $450.00
Grand Total = $1,547.00

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