Michigan Title Insurance Cost Calculator
Calculate title insurance rates and closing costs for Michigan properties
ALTA Rates
Based on Michigan's ALTA rates
Accurate Estimates
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Calculate Michigan Title Insurance Cost
Michigan Title Insurance Rates
Standard ALTA Rates
- Up to $50,000: $3.30 per thousand
- $50,001 to $100,000: $3.00 per thousand
- $100,001 to $500,000: $2.00 per thousand
- $500,001 to $1,000,000: $1.75 per thousand
- Over $1,000,000: $1.50 per thousand
Simultaneous Issue Discount
When owner's and lender's policies are issued simultaneously, the lender's policy is typically issued at a reduced rate of $100.
Frequently Asked Questions
How much is title insurance in Michigan?
Title insurance costs in Michigan are based on the property's purchase price, starting at $3.30 per thousand for the first $50,000. Rates decrease as the purchase price increases, with significant savings available through simultaneous issue discounts.
Who pays for title insurance in Michigan?
In Michigan, the seller typically pays for the owner's title insurance policy, while the buyer usually pays for the lender's policy. However, this can be negotiated between parties during the purchase agreement.
What is simultaneous issue rate?
When both owner's and lender's policies are issued simultaneously in Michigan, you can save significantly on the lender's policy. Instead of paying full rate for both policies, the lender's policy is typically issued for around $100.
Are title insurance rates regulated in Michigan?
While Michigan does not strictly regulate title insurance rates, most companies follow the standard ALTA rates. However, rates can vary between companies, so it's recommended to compare quotes.