How Does Refinancing Affect Title Insurance?
People refinance their homes for many reasons. Most commonly, refinancing is used to readjust the terms of the mortgage loan or to get a lower interest rate. If you’re considering refinancing your Lake of the Ozarks home to take advantage of a lower rate or more favorable terms, you most likely are looking to learn about the upfront costs. One thing you may not have thought about regarding refinancing, though, is the impact it will have on your title insurance policy . If you're thinking about refinancing your home at the Lake of the Ozarks , Arrowhead Title has provided some important information to keep in mind. Refinancing - It's Still A Home Loan When you refinance your home, you are essentially taking out a new loan to pay off the original loan in full. This applies even if you are refinancing through the same lender that originated your current loan. Because you are taking out a brand-new loan, you will have to undergo the same process (and cover the same c