Estimate your Michigan title insurance premiums and closing costs.
Commonly added when a mortgage is involved in the purchase.
Understanding Title Insurance in Michigan
In Michigan, title insurance rates are "filed" with the state's Department of Insurance and Financial Services (DIFS). While rates vary slightly between underwriters like First American, Old Republic, and Chicago Title, they generally follow a tiered structure based on the property value or liability amount.
Who Pays for Title Insurance in Michigan?
By custom in the state of Michigan, the Seller typically pays for the Owner's Policy of Title Insurance. This policy protects the buyer's interest in the property. If the buyer is obtaining a mortgage, the Buyer typically pays for the Loan Policy (Lender's Policy) and any associated "simultaneous issue" fees.
Calculated Premium Tiers
Title premiums in MI are not a flat percentage. They use a sliding scale. For example:
Up to $50,000: Base rate (approx. $435 – $480)
$50,001 to $100,000: Base plus ~$3.10 per $1,000
$100,001 to $500,000: Base plus ~$2.15 per $1,000
Over $500,000: Base plus ~$1.85 per $1,000
Michigan Title Insurance Example
If you are purchasing a home in Grand Rapids or Detroit for $300,000:
The Owner's Policy premium would be approximately $1,020.00.
If you are financing, a Simultaneous Issue Loan Policy would add roughly $160.00.
Total estimated title insurance cost: $1,180.00.
*Disclaimer: This calculator provides an estimate based on common Michigan rate schedules. Actual costs may vary based on the specific title agency, underwriter, and endorsements required for your transaction.*
function calculateMichiganTitle() {
var price = parseFloat(document.getElementById('propertyPrice').value);
var simIssue = document.getElementById('simIssue').checked;
var resultDiv = document.getElementById('calcResult');
if (isNaN(price) || price <= 0) {
resultDiv.style.display = 'block';
resultDiv.innerHTML = 'Please enter a valid property purchase price to see results.';
return;
}
var premium = 0;
// Logic based on standard MI filed rates (common average)
if (price <= 50000) {
premium = 435;
} else if (price <= 100000) {
// Base 435 + 3.10 per 1k over 50k
premium = 435 + ((price – 50000) / 1000 * 3.10);
} else if (price <= 500000) {
// Base 590 (at 100k) + 2.15 per 1k over 100k
premium = 590 + ((price – 100000) / 1000 * 2.15);
} else if (price <= 1000000) {
// Base 1450 (at 500k) + 1.85 per 1k over 500k
premium = 1450 + ((price – 500000) / 1000 * 1.85);
} else {
// Base 2375 (at 1M) + 1.60 per 1k over 1M
premium = 2375 + ((price – 1000000) / 1000 * 1.60);
}
var simFee = simIssue ? 160 : 0;
var total = premium + simFee;
resultDiv.style.display = 'block';
resultDiv.innerHTML = '