If the seller has owned this property three years or less and has a copy of their owner’s policy, then the seller will be given re-issue credit up to the amount of his/her policy.
If the property is being refinanced there is no time limit; this credit will be given based on the value of the current owner’s policy.
The Re-Issue Rates for an owners or mortgage policies are as follows:
- $3.30 per $1,000.00 of value for the first $100,000.00
- $3.00 per $1,000.00 of value therefore up to $1,000,000.00
Please contact us for rates for owners or mortgage policy above $1,000,000.00
