Stearns Consumer Portal
Loan Servicing Portal
I can help you!
Visit My Site
I can help you!
Visit my Page
Home Loan Options
Home Loan Options-Home-Loan-Options-2-2-Home Loan Options-2
Homebuying & Selling
Homebuying & Selling -Homebuying-Selling-3-2-Homebuying & Selling-3
Tips & Advice
Tips & Advice -Tips-Advice-4-2-Tips & Advice-1
Stearns Life-Stearns-Life-5-2-Stearns Life-2
9 Things Homebuyers Need To Know About Title Insurance
In your journey to buy a home, you’ll learn a great deal about real estate, property values, home repair, financing and a variety of other topics. Title Insurance is one of those items, so here are 9 things you need to know:
Titles exist to prove legal ownership of property, such as a house, condo or vehicle.
The title of your new home needs to be transferred to you upon purchase.
Property ownership can only be transferred from seller to borrower with a clean and clear title, meaning no other person or entity can claim ownership.
A clear title means that it is free from judgments, liens and bankruptcies.
Nearly 1/3 of title searches turn up some irregularity. Even if it’s a small issue, it must be resolved.
Title insurance provides financial protection against things like fraud, forgery, spousal claims, undisclosed heirs and tax issues.
One type of title insurance is necessary to protect your interests. The other type is to protect the lender. Both are required.
You have the right to choose your title insurance provider.
Generally, the buyer pays for one policy while the seller assumes the cost for the other.
This quick list outlines the most common scenarios, but title insurance varies based on where you live and several other factors. Ask your
Stearns Mortgage Loan Originator
for details about your individual title insurance needs.
This blog post is being provided for the purpose of general education, but should not be construed as legal or financial advice.
- By Lauren Howey, May 17, 2017
You might also like
Leonard Cullip Promoted To Stearns Regional Vice President For California and Alaska
Leonard Cullip has been promoted to Stearns’ Regional Vice President for California and Alaska
- Jan 15, 2020
Tips to Improve Your Home’s Efficiency
There are small things every homeowner can do to save money and make their home more energy efficient.
- Jan 08, 2020
VA Home Loan Limits Increase For 2020
Stearns has increased VA home loan limits for 2020 to help veterans and active duty servicemen and woman purchase a home..
- Jan 07, 2020