Working diligently with you and your lender.
Refinancing your home has multiple benefits. It can be great way to decrease your monthly payment and take advantage of lower interest rates, or it can allow owners to leverage the equity they have in their home and pull money out. Even with a refinance, a new title search will be required. The object of that research is to confirm that the applicant for the refinance is truly the legal owner of the property.
No matter the goal, we provide closing and title services for all types of refinances and purchases. We provide the necessary closing title protections required by your lender. Much like a purchase, we will facilitate the closing process and work with all parties to ensure a smooth closing.
The most important things to know:
Among the most important things to know about title insurance is that it is a lot less expensive than most other types of insurance, such as car insurance. The costs savings comes in the lack of monthly premiums. Instead, it's paid as a one time payment at closing on your closing statement. For paying for the title insurance policy, you receive legal proof that you own the property. Any past events or defects to the home that you or others may not know about, cannot result in you losing ownership of that property through claims on the title.
Title companies work with both lenders and borrowers. Typically, your lender will require you to purchase title insurance when a property closes in addition to them purchasing their own policy. This ensures both parties have adequate protection. A lender's policy is issued by the title company to protect the mortgage holder until the borrower fulfills their loan obligations. By working with a title company on a refinance, a lender can have peace of mind in the same way the borrower does.
