How much does title insurance cost?
The cost of a title insurance policy differs by state and is based on variables such as the lender, home purchase price, and amount of down payment.
Example 1
- Policy Holder: First American
- Title Location: Dallas, TX
- Purchase Price: $300,000
- Down payment: $50,000
- Policy cost: $2,218.30
Example 2
- Policy Holder: First American
- Title Location: Atlanta, GA
- Purchase Price: $300,000
- Down payment: $50,000
- Policy cost: $1,505
Example 3
- Policy Holder: First American
- Title Location: Phoenix, AZ
- Purchase Price: $300,000
- Down payment: $50,000
- Policy cost: $2,245
Example figures sourced from First American Title’s fee calculator.
Final Thoughts
Regardless of where you buy the policy, in the case of complete loss of the property due to a mistake in the title report, having one will help you recoup financial losses. Consider it as a security net for one of the most significant purchases you could ever make. A good REALTOR® can aide you make the right offer for the property you’re interested in buying. For free valuation, contact us at 401-396-2888. We’re always glad to help!
