ORIGINAL TITLE INSURANCE RATES FOR FIRST AND SECOND MORTGAGE
Per Thousand
Basic Rate
Enhanced Rate
Up to and including $250,000 of liability written
$2.50
$3.00
Over $250,000 and up to and including $500,,000 add
$2.00
$2.40
Over $500,000 and up to and including $1,000,000 add
$1.75
$2.10
Over $1,000,000 and up to and including $5,000,000 add
$1.50
$1.80
Over $5,000,000 and up to and including $15,000,000 add
$1.25
$1.50
Over $15,000,000 add
$1.00
$1.20
Minimum Premium
$100.00
NOTE: Enhanced rate is 20% more than the Basic rate. The minimum premium for the enhanced policy is $120.00
ORIGINAL TITLE INSURANCE RATES FOR OWNERS OR LEASEHOLD POLICIES
Per Thousand
Basic Rate
Enhanced Rate
Up to and including $250,000 of liability written
$3.50
$4.20
Over $250,000 and up to and including $500,,000 add
$3.00
$3.60
Over $500,000 and up to and including $1,000,000 add
$2.50
$2.10
Over $1,000,000 and up to and including $5,000,000 add
$2.00
$2.40
Over $5,000,000 and up to and including $15,000,000 add
$1.75
$2.10
Over $15,000,000 add
$1.50
$1.80
Minimum Premium
$150.00
NOTE: Enhanced rate is 20% more than the Basic rate. The minimum premium for the enhanced policy is $180.00
Summary of Closing & Escrow Procedures around the United States
This summary is merely a general reference guide. Local practices within your city or county may differ. Contact a local title company or real estate attorney for specific information. This is not intended as legal advice, but merely as a general reference guide.
MARYLAND - Attorneys conduct closings, and there has to be a local attorney involved. Conveyance is by grant deed, and the deed must state the consideration involved. Although mortgages are common in some areas, deeds of trust are more prevalent as security instruments. Maryland uses ALTA policies and endorsements. Buyers pay closing costs, title insurance premiums, and transfer taxes. Property taxes are due annually on July 1st.
