The Fryer Law Firm

404-240-0007

The Fryer Law Building
70 Lenox Pointe, NE
Atlanta, Georgia 30324

Premium Calculator Loan Policy Basic Owner Policy Basic Simultaneous Enhanced Owner Enhanced Simultaneous Loan Amount Property Value Loan Prem. Total Premium Owner Prem.

Here's how it works:

Loan officers completing a GFE for a refinance closing will select Loan Policy, enter the loan amount and click “Calculate” to determine the Lender's Title Insurance Policy rate.

For Lender's and Owner's policy rates on a purchase in which the purchaser is obtaining a loan, choose either Basic Simultaneous (for a lender's policy plus basic owner's coverage) or Enhanced Simultaneous (for lender's policy with enhanced owner's coverage), enter the loan amount and purchase price and click “Calculate”. This will give you the total premium amount, as well as a breakdown of premiums for the lender's and owner's policies.

Realtors seeking to determine the price of an Owner's Title Insurance policy for an all-cash closing, will select either Basic Owner Policy (for a basic rate) or Enhanced Owner for an enhanced policy; enter the sales price in the Property Value space provided, and click “Calculate”.

Ultimately, the decision whether to purchase a Basic Owner's Policy or an Enhanced Owner’s Policy rests with the purchaser. When your borrower is shopping for title insurance quotes, please make sure they are receiving pricing on the same/comparable product; a lower quote based on a basic policy rate may seem like a good deal, but will not offer the same protection as an enhanced policy, should the need arise. Based on claims history in the metro-Atlanta area, most informed consumers and attorneys request enhanced coverage, especially when a new survey is not obtained. Please read, and direct your clients to read, our Comparison of Basic and Enhanced Owner’s Title Policies and why we believe that Enhanced policies offer them the best protection for the money. For a more detailed explanation and comparison of the two types of Owner’s policies, please feel free to contact one of our attorneys.