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When I refinance, do I need to purchase another title insurance policy?

by v.martell183 from Lineboro, Maryland. Jun 10th 2016 Reply


Lorne Harvey (lorneharvey)
#80 ranked lender in Washington - 428 contributions

Absolutely!

Jun 10th 2016
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You will be required to purchase a new lenders title insurance policy, your owners will remain the same from your purchase. Hopefully you can have your loan done woth having your closing costs covered (not rolled into the loan)

Jun 10th 2016
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Borrowers are required to obtain title insurance for the lender to eliminate any issues with others having an ownership interest or right to your property. If you purchased an owner's title policy or if you go back to the same settlement agent that order title for your purchase, you may be able to reduce the title costs by using the existing title policy. Please feel free to call if you are interested in refinancing. As noted below with current rates rolling in closing costs into the new loan amount may still give you a savings in monthly payment or loan term. Hope this answers helped.

Jun 11th 2016
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William J Acres (William_Acres)
#1 ranked lender in Arizona - 8,471 contributions

Yes, it's required by the lender, but typically, it's at reduced premium.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com NMLS# 226347

Jun 13th 2016
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Scott Fix (ScottFix)
#1352 ranked lender in California - 184 contributions

Whether a new loan for a home purchase or a refinance, you will need to purchase a title insurance policy.

Jun 10th 2016
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