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7 min read Feb 16, 2024

How Much is Title Insurance in New Hampshire?

Title insurance safeguards the buyer and lender from any potential financial risks associated with a defective title. Title policies in New Hampshire cost about 0.5% to 1.0% of the home’s purchase price and are included in the home’s closing costs.

Buying a new home is a major life decision and investment you can make. After investing a significant sum of money, the last thing you’d want is for someone to claim over your newly purchased property.

To avoid this and protect yourself from future vulnerabilities, you must consider title policies. In our blog, we’ve explained what exactly title insurance is, its types, and how much title insurance costs in New Hampshire.

🚀 Key Takeaways

  • Title insurance protects the interests of buyers and lenders in cases of issues associated with a defective title.
  • Cost of title insurance in New Hampshire depends on the state regulations and home purchase price.
  • An owner’s title policy is an optional purchase, whereas, a lender’s title policy is a mandatory purchase.

What is Title Insurance?

It is a policy that safeguards the interests of both the buyer and the lender in cases of issues associated with the title of the property.

Issues associated with a defect in the title are as follows:

  • Property border disputes
  • Encroachments
  • Easements
  • Forged documents
  • Third-party claims
  • Error in recorded documents
  • Incorrect property deeds

Issues with ownership of property are widely prevalent in the US real estate market. A title policy can surely be a valuable extension to your home purchasing journey.

Types of Title Insurance Policies

They are of two types: owner’s title policy and lender’s title policy.

1. Owner’s Title Insurance

An owner’s title insurance policy secures the potential homebuyer from title-related issues. It covers cases like undetected liens, covenants, easements, etc. against the owner by a third-party entity, claiming rights to the house.

A one-time fee is paid to the title company and its coverage lasts for as long as the owner or his/her heirs own the property.

2. Lender’s Title Insurance

A lender’s title insurance protects the mortgage lender financing your transaction from someone claiming a right to your house. The lender’s title insurance is a mandatory purchase.

Title Insurance Cost New Hampshire

Title policies usually cost about 0.5% to 1.0% of the home’s purchase price and are included in the New Hampshire home’s closing costs. You will get an itemized breakdown of the policy.

What Costs are Covered in New Hampshire Title Insurance?

A typical policy quote will include the following title fees:

  • Title Search: A title search is the process of examining and verifying property documents to confirm the legal ownership of a property.
  • Title Settlement: A title settlement procedure marks the conclusion of the real estate transaction. It involves payment towards closing costs and signing of documents to transfer property ownership from seller to buyer.
  • Escrow: An escrow is a neutral third party that holds and disburses all the funds and documents in a deal.
  • Land Survey: A land survey involves the measurement, analysis, and mapping of the Earth’s surface. It encompasses the precise determination of land boundaries.
  • Real Estate Attorney: A real estate attorney is a licensed legal expert, who specializes in real property law. Real estate attorneys ensure that the legalities are met in a real estate transaction.
  • Notary: A notary officer witnesses the signing of the papers and verifies the authenticity of the real estate documents.
  • Deed Preparation: It involves drafting and preparation of deeds and legal documents in the real estate transaction.
  • Abstract and Recording: It records a detailed history of title ownership from the first owner to the present owner.

How Much Does Title Insurance Cost in New Hampshire?

Let’s find out New Hampshire title insurance rates. The owner’s title policy and the lender’s title policy cost in New Hampshire are as follows:-

Owner’s Title Insurance Cost in New Hampshire ($1,400 on median-home sale price)

The premium for owner’s title insurance is paid just once. However, certain factors determine its cost:

  • Government regulations
  • Title company
  • Coverage chosen

The title insurance rates in New Hampshire are filed by title companies with the state government. So, irrespective of the company you opt for, the title policy prices will remain the same.

New Hampshire title insurers’ charges are as follows:

Insurance AmountTitle Policy Premium (per $1000)
Up to $1,000,000.00$2.00

Therefore, on a median home sale price of $459,800, the owner’s title policy costs about $1,400.

Lender Title Insurance Cost in New Hampshire ($75)

Typically, when the New Hampshire owner’s title policy is simultaneously purchased together with the lender’s policy, it costs $75. Further, the accountability of the title insurer decreases as the loan is paid off.

✍️In New Hampshire, title insurance can also be provided by attorneys. So, if you want to avoid going through a title company, an attorney can serve your purpose while also giving you legal representation.

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Who Pays the Title Insurance Company in New Hampshire?

In New Hampshire, the seller usually pays for the homeowner’s title policy. If the buyer wants to purchase an enhanced policy, they will have to pay for the difference between the two policies.

The buyer has to purchase the lender’s title policy in New Hampshire to protect the mortgage broker’s interests in the transaction.

While applying for a refinance, the homebuyer or the lender is at liberty to choose the title company. Sometimes, the lender or the real estate agent may also provide suggestions for title companies with which they may have tie-ups.

They could also be getting kickbacks in return for bringing them clients. Under those circumstances, you could end up paying inflated rates, thereby increasing your expenses.

👉Thoroughly vet the title company or attorney you choose in order to save money and maintain peace of mind.

Alternative to Buying Title Insurance: Warranty of Title

A warranty of title is a legal document where the seller guarantees the transfer of ownership of the property to the buyer. This document chiefly protects buyers from future problems that may arise due to:

  • Unresolved inheritance issues
  • Boundary-line disputes or survey inconsistencies
  • Undisclosed mortgages
  • Outstanding property or federal income taxes

Accordingly, it states that no one else has any claim to the property. It protects the buyer’s interests, allowing them to sue the seller in case any dispute arises in the future.

However, compared to a title policy, a warranty deed provides only limited financial protection.

Bottom Line: Are Title Costs in New Hampshire Worth It?

Undoubtedly! 0.5%-1% of your home’s purchase price towards a title policy is a worthwhile investment. With an insured title, you won’t have to spend on legal fees in case of third-party claims, saving you money. All just for a one-time fee!

If you are obtaining a mortgage then a lender’s policy is a non-negotiable purchase added to the closing costs. While this policy extends its coverage only to the lender, you require a homeowner’s title policy to protect yourself from title defects.

A homeowners’ policy is not mandated but highly recommended. In conclusion, without a title policy, you risk losing your home to the complainant.

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Frequently Asked Questions

1. What are title fees in New Hampshire?

Title fees are a part of closing costs. They include the charges for carrying out the title search of the property, attorney and notary services, settlement fees, etc. Use Houzeo's closing cost calculator to know your closing costs!

2. How much is owner's title insurance in New Hampshire?

On a median home sale price of $459,800, the owner's title policy in New Hampshire costs about $1,400.

3. How much is title insurance for land in New Hampshire?

When buying a plot of land in New Hampshire, you should also acquire an owner's title policy to protect your investment. It is a one-time fee ranging from 0.5% to 1% of the purchase price.

How Much is Title Insurance New Hampshire

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