Washington Title Insurance Rate Calculator
Estimate WFG National Title Insurance premiums for WA state transactions.
Purchase (with Loan)
Purchase (Cash / No Loan)
Refinance
King / Pierce / Snohomish (Standard)
Spokane / Eastern WA
Other Counties
Owner's Policy Premium:
$0.00
Lender's Policy Premium:
$0.00
Total Title Insurance Cost:
$0.00
*Estimates based on standard WA rate schedules. Does not include escrow fees or recording fees.
Understanding WFG Title Rates in Washington State
When engaging in a real estate transaction in Washington, whether you are buying a home in Seattle, refinancing in Spokane, or investing in Tacoma, understanding your closing costs is crucial. Among these costs, Title Insurance is a significant component designed to protect your property rights.
This calculator is designed to estimate title insurance premiums based on typical rate schedules used by underwriters like WFG National Title Insurance Company in Washington State. Unlike generic calculators, this tool specifically accounts for the nuances of Washington's "simultaneous issue" rates and the distinction between standard and refinance policies.
How Washington Title Insurance Rates are Calculated
In Washington, title insurance rates are filed with the State Insurance Commissioner. While companies like WFG compete on service, the rate structures often follow a tiered liability model based on the property value (for Owner's Policies) or the loan amount (for Lender's Policies).
Key Definition: Simultaneous Issue
In a purchase transaction where a buyer gets a mortgage, they typically purchase an Owner's Policy for the full sales price. Since the lender also requires protection, a Lender's Policy is issued simultaneously. In Washington, you don't pay the full premium for both; the Lender's Policy is often charged at a significantly reduced "simultaneous issue" rate.
In a purchase transaction where a buyer gets a mortgage, they typically purchase an Owner's Policy for the full sales price. Since the lender also requires protection, a Lender's Policy is issued simultaneously. In Washington, you don't pay the full premium for both; the Lender's Policy is often charged at a significantly reduced "simultaneous issue" rate.
Breakdown of Policy Types
- Owner's Policy: Protects the buyer. The premium is calculated based on the full Sales Price of the home. In Washington, it is customary (though negotiable) for the Seller to pay for the Owner's Policy.
- Lender's Policy: Protects the bank or mortgage lender. The premium is based on the Loan Amount. The Buyer typically pays for this policy.
- Refinance Rate: If you are refinancing an existing loan, you are not buying a new Owner's Policy. You only purchase a Lender's Policy. Title companies in Washington often offer a discounted "Refinance Rate" that is lower than the standard rate used for purchases.
Typical Washington Rate Schedule Tiers
While exact rates vary slightly by specific underwriter filings, a representative Washington state title rate structure generally looks like this:
- Base Rate: A fixed cost for liability up to a certain amount (e.g., $100,000).
- Incremental Add-on: For every $1,000 of liability above the base, a specific dollar amount is added. This rate usually decreases as the property value increases (e.g., the rate per thousand is cheaper for a $1M home than a $200k home).
Who Pays for What in Washington?
Closing cost customs vary by county in Washington, but general standards include:
- Title Insurance (Owner's): Customarily paid by the Seller.
- Title Insurance (Lender's): Customarily paid by the Buyer.
- Escrow Fees: Typically split 50/50 between Buyer and Seller.
Use the WFG rate calculator above to assist in preparing your Net Sheet or Loan Estimate, ensuring you have accurate expectations for your closing day in Washington.