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Thinking about refinancing?
Whether you are refinancing to reduce your term or take advantage of lower interest rates, you want the process to go smoothly. Although you already have lender's title insurance on the property you are refinancing, you will be required to purchase a new loan policy. That is because a lender's policy only provides coverage for the life of the loan. Since you are refinancing, you are paying off one loan and securing a new loan, for which your lender will require a new lender's title policy. Reissue rates may apply, so please provide us with a copy of your prior title insurance policy as soon as possible.
Note: If you are adding your spouse to your deed as part of your refinance, please let us know in advance as additional transfer taxes may apply.
If you have a Home Equity Line of Credit, also known as a HELOC, in addition to the mortgage we are refinancing, we will need detailed information including loan number, phone number, and payment address so we can arrange to satisfy those loans. This applies even if there is a zero balance on your HELOC. Please ask your loan officer, or your Southern Title Closing Officer, for more information.
Plus, you can find more helpful information in our Introductory Refinance Book.