Your Title Quote Explained
The results listed on our calculator are based solely on the information that has been provided and subject to your lender’s closing requirements. Any changes including but not limited to the sales price, loan amount, lender requested endorsements and number of documents to be recorded may result in a change of the figures provided.
Important facts you need to know about your Title Quote
If you have secondary financing the fees may change based upon lender requirements. Please request updated figures if the terms have changed or additional services are required.
The Lender’s Title Insurance in this quote includes: lender’s title insurance premium (standard PA policy rate), lender’s standard endorsements (PA 100, 300, 900) and lender required CSL (Closing Services Letter). Additional endorsements for an adjustable rate mortgage (PA 710) or if your property is a condominium (PA 820) or part of a planned unit development (PA 810) might apply.
Owner’s Title Insurance, whether it be the Standard or Enhanced Policy coverage, is available on purchase transactions and the coverage is optional, but recommended. Click here to learn more about owner’s title insurance coverage.
NOTE: Any change in terms requires a revised quote. Please request an updated quote if you’re considering declining the optional owner’s policy.
Miscellaneous Fees: ALT's quote clearly indicates (No Charge or Paid By ALT) for the list of customary “miscellaneous” and/or “other” fees charged by most title companies and/or real estate brokers. If you’re comparing our quote to one of our competitors and you don’t see any reference to miscellaneous or government fees on a competitors quote, don’t assume that they will not charge them at settlement.
**Conveyancing Fees (also referred to as Broker Service Fees or Flat Commission) are fees typically charged to the buyer/borrower by real estate companies to process your transaction. ALT provides the same services for our customers at NO additional charge. The title search, transaction processing, deed preparation and attending and conducting your settlement are included in the one-time title insurance premium that you pay at closing.
Standard vs. Enhanced Policy. Both the lender’s and owner’s title insurance premiums referenced in this quote are for the standard title insurance policy. There is also an Enhanced Homeowner’s Title Insurance policy (Enhanced Policy) available for an additional fee. Add 10% to both the lender’s premium and owner’s premium to determine the Enhanced Policy rate.
The Enhanced Policy is available to all natural persons and family trusts, on 1-4 family properties and condominiums that are owner occupied. The Enhanced Policy is not available to investors, or on vacant/unimproved ground. Furthermore, the Enhanced Policy is subject to policy limitations and deductibles. Your mortgage lender does not require Enhanced Policy protection.
It Pays to Shop Around for Title Insurance