Title insurance cost during purchase and refinance

[Prasanna K.]

Being a newer investor, the last thing I have dug into is title/escrow costs. I just checked closing costs for lender title insurance for a SFH during purchase and refinance. The property value is 600K in Austin. During purchase a year back it was $3188 and during refinance a couple of months back it was $1345. Is it normal for title insurance to be high during purchase than refinance.. or did I git ripped-off by the escrow company during purchase?

[Scott Wolf]

Originally posted by @Prasanna K.:

Being a newer investor, the last thing I have dug into is title/escrow costs. I just checked closing costs for lender title insurance for a SFH during purchase and refinance. The property value is 600K in Austin. During purchase a year back it was $3188 and during refinance a couple of months back it was $1345. Is it normal for title insurance to be high during purchase than refinance.. or did I git ripped-off by the escrow company during purchase?

When you bought the property, you got an Owner's Policy, which protects you, and a Lender's Policy to protect the lender.  During a refinance, you only pay for a new Lender's Policy, as your Owner's Policy will remain in effect until you sell the property to another owner.