These definitions are general in nature and may apply differently for title or escrow and may differ by company. Discounts range from 5% to 30%.

First time homebuyer’s discount

Title & Escrow – Usually relates to a one to four residential property.

Short time rate (Short-term rate)

Title only – When purchasing a new title policy on a property that has been sold or insured within the last 2 to 5 years.

Professional discounts

Title & Escrow – Companies may offer this discount to professionals such as lawyers, engineers or teachers.

Binder policy

Title only – A refund on a title policy for people who expect to sell their property within 2 to 5 years. Additional premium is charged for this option.

Concurrent rate discount when a title company provides both the lender and homeowners policies

Title only – When both the lender and purchaser use the same Title Company, a discount may be applicable.

Subdivision bulk rate discount if the property being purchased is in a new subdivision

Title & Escrow – When the developer or contractor sells several homes and uses the same title & escrow Company.

Senior citizen discount

Title & Escrow at age 55 or older.

Please visit the Federal Department of Housing and Urban Development (HUD) for additional information on RESPA and title insurance.  The California Department of Insurance (CDI) also has a Title Insurance Brochure that you may find helpful.