The owner’s policy protects against a loss that may occur from a fault in your ownership or interest you have in the property. A title policy will protect the equity in your new home.
Policy rates do not include the $25 simultaneous 1 2%url%% 2 issue fee.
(minimum premium $100)
|Amount of Insurance||Cost Factor||Plus||On Amount Over|
|Up to $100k||$5.75/$1k||—||—|
|$100,001 to $1 million||$575.00||$5.00/$1k||$100k|
|$1 million+||Contact Us|
Lender required endorsements
Florida Form 9 Endorsement — 10% of Owner’s plus Lender’s Policy Navigational Servitude Endorsement — 10% of Owner’s plus Lender’s Policy Other Endorsements — $25.00 per Endorsement
Simultaneous issue transactions
When an owner’s policy and a loan policy are issued simultaneously, the rate applicable for the owner’s policy shall be the regular owner’s rate. In all cases the owner’s policy shall be issued for the sale price of the property or, in the even there is no sale, the value of the premises. An additional $25.00 (FL) will be added to the premium whenever a simultaneous issue occurs.
Re-issue rate policy
To qualify for a reissue rate, the borrower must provide the (seller’s) current owner’s title policy which must be less than 10 (ten) years old. The reissue rate is based on the face amount (coverage) of the (seller’s) current policy. However, if the buyer qualifies for the Real Credit Program then we can only honor EITHER the re-issue rate or the Real Credit, not both.
In addition, the buyer is customarily responsible for deed recording fees, condominium search/approval fees, documentary stamp taxes on the note and the intangible tax on the mortgage. The seller is customarily responsible for fees due on documentary stamps on the deed. Federal Title & Escrow Company reserves the right to modify the fees listed above with reasonable advanced notice, however, such fees will not change during the course of a transaction unless required by law or our title insurance underwriter.