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Home Buying Tips


If you are refinancing or purchasing a home in Maryland, Virginia or the District of Columbia:

  • When you purchase your home (this includes single family homes, condos and townhouses), you purchase an Owner’s Policy to protect against any discrepancies or errors that may be on the Title of your home.  Lenders also require you to purchase a Lender’s Policy at the time of the purchase of your home and require you to purchase a new Lender’s policy each time you refinance.  The Owner’s Policy is a one-time purchase good for as long as you hold title to your home. 
  • When purchasing a home, ask the seller for a copy of their existing Owner’s Policy and you may receive a reissue rate on your new Owner’s Policy.
  • When refinancing, ask the Title/Settlement Company you are using to close your loan if they will give you a reissue rate on the Lender’s policy.  You will need a copy of the Owner’s Policy you purchased at the time you purchased your home.
  • Usually, there is about a 40% savings when it comes to the reissue rate.
  • Some Settlement companies may not honor an Owner’s Policy older than 10 years, but if you press the issue they will give some sort of discount on your closing cost.

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