Congratulations! Shopping for a house is exciting, but also a bit overwhelming.
The cost of title insurance will depend upon what you pay for your house and also the size of your mortgage. The average cost in the US for title insurance is 0.4%-0.5% of the purchase price. In 2021, this translated to about $540 for a lender’s policy and about $800 for an owner’s policy.
While this may not seem like a lot, these closing costs can add up. When planning your home-buying budget, be sure to add the cost of title insurance to your calculation.
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