Insurance Premiums

FOR BORROWERS (REFINANCES)

Please review fees and important reminders in our seller’s closing guide prior to your settlement.

  • 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

Federal Title & Escrow Company

For nearly 25 years, our independently owned title company has leveraged technology to streamline the closing process, providing top-notch service at a competitive price for buyers, sellers, agents and lenders across the District of Columbia, Maryland and Virginia.

  • We are proud pioneers of creating a better closing experience for buyers, sellers, agents and lenders.
  • Our instant REAL Credit™ for ordering settlement services online has saved our neighbors upward of $18 million to date.
  • Our paperless, custom-built closing workflow software allows us to proactively keep customers in the know and avoid settlement surprises.
  • Our free mobile app Close It!™ helps homebuyers and their agents better understand the complete cost to be paid at closing.
    • Often imitated but never replicated – we set the bar other title companies aspire to reach.

Have questions? We’d love to hear from you! Contact Us

Closing Costs Explained…

Closing costs include taxes, lender fees and title fees that a homebuyer pays at settlement. Watch this video to prepare for the process.

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5335 Wisconsin Avenue, NW, Suite 700
Washington, D.C., 20015
Phone: 202.362.1500
Email: services@federaltitle.com

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