Refinancing Title Insurance in Tampa, Plant City, Brandon, Lakeland, Lutz & Throughout Florida

Refinancing your mortgage makes sense if you are able to negotiate better terms, such as a lower interest rate, and if you don’t mind absorbing the closing costs that accompany any new loan. Title insurance is included in those new closing costs, just as it was with your original mortgage. You have the option to purchase an owner’s title insurance policy to protect your own interests, but a lender’s policy is absolutely required by the bank for refinancing, regardless of how long ago you signed your original mortgage.

Why is an owner’s policy optional, while a lender’s policy is mandated for refinancing? Because it protects the lender from liens that might have been placed against the property during your ownership or previous ownerships. The potential sources of liens include:

• Unpaid contractors who performed work on your home
• Unpaid taxes
• Unpaid homeowner’s association dues
• Unpaid child support
• Any other legal action against you that might affect your status as owner of the property

The good news is, you can choose which title agency you want to fulfill your obligation to buy a lender’s policy. When refinancing in South Tampa, Seffner, Ruskin, Pasco County or anywhere else in the Tampa Bay area, Hillsborough Title is the title company you can trust to help your new loan go through smoothly, efficiently and stress-free.

If you’re thinking of refinancing in Tampa, Plant City, Brandon, Valrico, Apollo Beach and surrounding areas, contact your hometown title company, Hillsborough Title. We’ll be happy to explain the need for title insurance as you refinance, and help you determine whether a new owner’s policy is right for you. Also, don’t forget to ask if you’re eligible for a lower, reissue rate on your new lender’s title insurance policy. And to gauge the potential advantages of refinancing, try our calculator.