The cost is generally added to the monthly payment. The amount of money that a borrower owes on a loan at a given time. There are two types of title insurance. A fee title policy insures the owners title. A mortgagee title policy insures the lender for the mortgaged amount.
Most lenders require the purchaser to pay for a mortgagee policy to indemnify the lender.
Policies typically run anywhere from approximately 350.00 to 750.00 depending on the mortgage amount. A federal law commonly known as the real estate settlement and procedures act that requires certain disclosures to consumers about mortgage loan settlements. The law also prohibits the payment or receipt of kickbacks.