Selecting a Title Company, Consider the Reissue Rate

The other day I attended a CE course at Bonneville Title. While there they brought up a term I wasn’t familiar with, “Reissue Rate.”

The Reissue Rate is essentially the rate for the title insurance, if there has been a different policy issued within the last six years. It is essentially a discount on title insurance, because title searches and such have recently been done for the property.

Reissue comes into play when you are purchasing a house, or just refinancing. On a $200,000 refinance where there was a title insurance policy activated within the last six years, the reissue rate would be $478 less than the full rate loan policy.

Bonneville Titles website has a neat tool where you can actually see what your rate will be: http://help.bonnevillesuperior.com/

When shopping for a Title Company, it’s a good idea to not just consider the closing fee, which may differ by about $50 between the different Logan Utah title companies, but also find out what the rate of the title insurance will really be. That’s where the real savings will come in.

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