Consumer Services
Buying or selling a home?
NFAAT is here for you.
Whether buying, selling, or refinancing your home, we are here to assist you every step of the way. We're dedicated to ensuring your closing is smooth, conducted professionally, and leaves you feeling completely at ease throughout the process.
As the person paying for title insurance, you have the right to choose your title and closing company. Call or stop by today to see how NFAAT's personalized, small-town service sets us apart.
Why Every Homebuyer Needs Title Insurance
Purchasing a home is the largest financial investment most people will make in their lifetime. An owner's title insurance policy protects that investment by safeguarding against potential legal challenges, defects, or issues with the property's title.
These FAQs will help you better understand the role of title insurance in protecting your most significant investment.
Title insurance protects homebuyers and lenders against financial loss due to a defect in the title that could interfere with their property rights. Unlike most types of insurance, such as homeowners or automobile insurance, which protects against future events, title insurance protects against loss due to events that occurred before you purchased the home.
There are two types of title insurance: the lender’s policy and the owner’s policy. The lender’s policy is usually required to get a mortgage loan and insures only the lender's financial investment. The owner’s policy protects your property rights as a homebuyer for as long as you or your heirs own the property.
Even after the most meticulous search of public records and a thorough review of the property's history, defects in the title can remain undiscovered for months or even years after you purchase a home. The lender’s title insurance policy only protects the lender, covers the loan amount, and provides no coverage for the homebuyer. Without the protection of an owner’s title insurance policy, your right to ownership may be subject to legal claims against you and the property.
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Forgery
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Missing Heirs
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Improper Execution of Documents
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Illegal Deeds
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Errors in Public Records
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Prior Mortgages
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Tax Liens
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Recording Errors
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Forgery
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Conflicting Wills
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Easement
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Adverse Possession Claims
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Owner’s title insurance is a low, one-time fee based on the purchase price of your home, and lender’s title insurance is based on the loan amount. When the owner’s and lender’s policies are purchased at the same time, a reduced simultaneous issue rate may be available. With a home being one of the most significant investments you’ll ever make, purchasing an owner’s title insurance policy in addition to a lender’s policy is a smart and cost-effective way to give you peace of mind.
Calculate policy rates using our title quote calculator or contact us for a quote.
