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| The following information is offered as a general guideline. |
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| Rates are applicable on residential transactions involving one-family to four-family dwellings
and condominium units. They are subject to change and the final cost may vary based on special coverages or endorsements
added to the policy. Please contact a First American representative for a firm quotation. |
| OWNER'S COVERAGE |
 |
Amount of Insurance
Up to $20,000
$20,001-$100,000
$100,001-$200,000
$200,001-$500,000
$500,001-$5,000,000
$5,000,001-$10,000,000
$10,000,001-$15,000,000
$15,000,001 and above |
|
Cost Factor
$100
$100
$400
$750
$1,650
$12,900
$23,400
$32,400 |
|
Plus
--
$3.75 per $1,000
$3.50 per $1,000
$3.00 per $1,000
$2.50 per $1,000
$2.10 per $1,000
$1.80 per $1,000
$1.75 per $1,000 |
|
On Amount Over
--
$20,000
$100,000
$200,000
$500,000
$5,000,000
$10,000,000
$15,000,000 |
| |
| LENDER'S COVERAGE |
|
Amount of Insurance
Up to $20,000
$20,001-$100,000
$100,001-$200,000
$200,001-$500,000
$500,001-$5,000,000
$5,000,001-$10,000,000
$10,000,001 and above |
|
Cost Factor
$100
$100
$380
$705
$1,530
$11,655
$20,655 |
|
Plus
--
$3.50 per $1,000
$3.25 per $1,000
$2.75 per $1,000
$2.25 per $1,000
$1.80 per $1,000
$1.50 per $1,000 |
|
On Amount Over
--
$20,000
$100,000
$200,000
$500,000
$5,000,000
$10,000,000 |
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| ADDITIONAL INFORMATION |
|
| REFINANCE: |
| The Refinance Rate Credit applies when: |
| |
1. |
one or more new mortgage(s) are being insured (the "Insured Mortgage(s)"), the proceeds
from which are used to pay off existing mortgage(s) less than 10 years old (the "Old Mortgage(s)");
and |
| 2. |
at least one of the mortgagors in the Insured Mortgage(s) is the mortgagor (or one of the mortgagors)
on each of the Old Mortgage(s), such that if a spouse or other co-owner is added to or deleted from title, it
will not disqualify the mortgagor(s) for the Refinance Rate Credit; and |
| 3. |
the Old Mortgage(s) and the Insured Mortgage(s) cover identical premises. |
| Existing mortgages 10 years or older cannot be included in the aggregate amount in calculating
the Refinance Rate Credit. |
| If there are one or more Insured Mortgage(s), the premium rate is based on the aggregate amount
of the Insured Mortgage(s). If one or more Old Mortgage(s) are being paid off, the Refinance Rate Credit is calculated
on the aggregate original amounts of the Old Mortgage(s) being paid off with the Insured Mortgage(s) proceeds. |
| Refinance Rate Credit is 40% of the loan policy rate up to the amount of the Old Mortgage(s) to
be paid off as described above. |
| The minimum rate shall be One Hundred Dollars ($100.00). |
| Note: For an example of how this rate is applied, refer to the Connecticut
Rate Manual section entitled "Reduced Rates." See Item B, "Refinance Rate Credit." |
|
| SIMULTANEOUS ISSUE: |
| A. |
Owner and Loan Policies |
| |
When owner's and loan policies are issued covering identical properties, and the policies
are issued simultaneously or if the owner's policy is issued with the contemplation of issuing a loan policy
and the loan policy is issued within thirty (30) days of the issuance of the owner's policy, the rate applicable
to the rate for the owner's policy shall include the issuance of the loan policy. There shall be no additional
charge for the loan policy except: |
| 1. |
for coverage which is provided in the loan policy which is not provided in the owner's policy
and for which coverage a charge in addition to the premium rate that would normally be charged either as specifically
set forth in the Rate Manual or as constituting additional coverage set forth in Section I B of the Rate
Manual. |
| 2. |
for any amount of the loan policy in excess of the amount of the owner's policy, the difference
in the applicable rate for the amount of the loan policy less the applicable rate for a loan policy in the amount
of the owner's policy will be charged for the excess amount of the loan policy. |
| When two or more loan policies are issued simultaneously with the issuance of an owner's
policy covering identical premises, the simultaneous rate will be applied to the loan policies, in the aggregate
amount, in accordance with the above rules. |
| For transactions where a loan policy is issued covering multiple sites, and an owner's
policy is issued simultaneously insuring an individual site which is one of the sites insured under the loan
policy, the amount of the indebtedness insured under the loan policy which is allocated to the site insured by
the owner's policy may be treated as a simultaneous issue. |
| B. |
Owner and Leasehold Policies |
| |
When owners' policies are issued simultaneously insuring the fee and leasehold interests
in identical properties, or where the insured leasehold is a portion of the insured premises, the rate for the
fee owner's policy shall be the applicable rate for owner policy insurance. The rate for the leasehold policy
shall be thirty percent (30%) of the owner's policy rate up to the amount of the fee policy, and the full applicable
owner's policy rate on the excess. The minimum charge for a simultaneous leasehold policy shall be one hundred
dollars ($100.00). |
| C. |
Two or More Loan Policies |
| |
When two or more loan policies are issued simultaneously covering identical properties,
the rate shall be the applicable rate for a loan policy in the aggregate amount of the loan policies. |
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