Current real estate information: Most recent tax bill, homeowners insurance bill and applicable association dues for any real estate owned
Title Insurance
The function of a title insurance company is to make sure your rights and interests in the property are clear, that transfer of the title takes place efficiently and correctly, and that your interests as a homebuyer are fully protected. Title companies typically issue two types of title policies; an owner's policy that covers you, the homebuyer, and a lender's policy that covers the lending institution over the life of the loan. If the loan is a purchase, both types of policies are issued at the time of closing for a one-time premium.
Mortgage insurance should not be confused with mortgage life insurance, which is designed to pay off a mortgage in the event of a borrower's death. Mortgage insurance makes it possible for you to buy a home with less than a 20 percent down payment. It protects the lender against the additional risk associated with low down payment lending.