What is title insurance?

Title insurance is a policy that covers third-party claims on a property that don’t show up in the initial title search and arise after a real estate closing

Types of title insurance

There are two types of title insurance: lender’s title insurance (also called a loan policy) and owner’s title insurance.

Title insurance costs

Title insurance is a one-time, up-front fee—not an ongoing expense. An owner’s policy is based on the home’s purchase price, while a lender’s policy is based on the loan amount.

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