Refinance
Title insurance on a North Carolina refinance
Only the lender's policy is new. Here is how it is priced, and how a recent policy can cut the premium.
Title insurance on an NC refinance
A refinance needs a new lender's title policy for the new loan, because your new lender is not covered by the old lender's policy. You do not need a new owner's policy; the one you bought at purchase stays in force. If the property was insured within the last fifteen years and you provide the prior policy, North Carolina's filed rates give a reissue rate of half the regular rate up to the prior policy amount.
Refinancing can feel like a repeat of your purchase, with a new title search, a new commitment and new closing documents. The difference is that the only new policy is the lender's. NC DOI notes that the owner's policy remains effective as long as you hold title. NC Department of Insurance, Title Insurance
How the lender's premium is figured on a refinance
| Loan amount | Regular rate premium | With a $200,000 prior policy (reissue) |
|---|---|---|
| $150,000 | $386.50 | $193.25 |
| $250,000 | $603.50 | $356.00 |
| $400,000 | $929.00 | $681.50 |
How the reissue column works on a $250,000 loan: the regular premium is $603.50. The first $200,000 of coverage, which is covered by the prior policy, is charged at 50% of the regular rate, a credit of $247.50, so the premium is $356.00. The prior policy, or the settlement statement showing it, must be provided to the insurer to get the reissue rate. NCTIRB rate manual, effective Feb 1, 2026
Endorsements your new lender requires, such as a planned unit development endorsement, are $23.00 each for the residential endorsements listed in PR-10. An expanded coverage residential loan policy, if the lender requests it, is the applicable rate plus 20% of the regular rate.
What to gather before you refinance
- Your owner's policy from your purchase, or your old closing statement. This is what makes the reissue rate possible.
- Your current loan statement, so the attorney can order an accurate payoff.
- Any recorded documents since you bought, such as a deed adding or removing a spouse, a home equity line or a solar or contractor lien.
- Your new Loan Estimate, to see whether the lender lets you shop for title services. CFPB, Shop for title insurance
Cash-out, second loans and equity lines
Larger and smaller loans are handled differently. A full first mortgage refinance uses the regular or reissue rates above. The NC manual sets separate flat premiums for limited coverage junior loan policies, such as some home equity products, at $60 up to $100,000, $88 from $100,001 to $250,000 and $183 from $250,001 to $500,000, with a $500,000 maximum, and those policies still require a licensed NC attorney's title opinion. NCTIRB rate manual, effective Feb 1, 2026 Whether your lender uses a full or limited policy is the lender's choice; your attorney will know from the closing instructions.
Choosing your title agent on a refinance
The same rules about choice apply on a refinance. You can shop for the services your lender lists as shoppable, and NC DOI says you do not have to use a title company selected by a lender. NC Department of Insurance, Title Insurance If you would like Ironwood to issue your new lender's policy, tell your closing attorney and your loan officer. Ironwood Title Group shares ownership with 1st Advantage Mortgage; if they are your lender you received a written disclosure, and using Ironwood is never a condition of the loan.
Second mortgages and equity lines
The North Carolina manual has separate, lower charges for qualifying junior loan policies on residential property: $60, $88 or $183 depending on the loan amount, under the conditions stated in the rule. NCTIRB rate manual, effective Feb 1, 2026 Whether a particular second loan or equity line qualifies, and whether the lender accepts that form of coverage, depends on the lender's requirements, so confirm with your loan officer before assuming the lower charge applies. For a full refinance of a first mortgage, the regular loan policy rate applies, reduced by the reissue rate if a qualifying prior policy is available.
Why a prior policy matters on a refinance
The reissue rate is 50% of the regular rate up to the amount of a prior policy issued on the same property within fifteen years, once the prior policy is provided. NCTIRB rate manual, effective Feb 1, 2026 On a $250,000 refinance with a $200,000 prior policy, the estimate drops from $603.50 to $356.00. Look for your prior owner's policy or ask the attorney who closed your purchase for a copy.
Refinance timeline at a glance
- 1
Application
Your lender issues the Loan Estimate, including title services you may shop for.
- 2
Provider choice
Tell your lender and closing attorney which title agent you want.
- 3
Title update
The attorney searches from your purchase forward and confirms existing liens.
- 4
Commitment
We issue a loan policy commitment, applying the reissue rate if a qualifying prior policy is provided.
- 5
Closing
You sign; the attorney records and pays off the old loan.
- 6
Final policy
We issue the loan policy to the new lender.
Questions people ask
Do I need title insurance to refinance in NC?
Your new lender will usually require a new lender's title policy. You do not need a new owner's policy; your existing one stays in force while you own the home.
What is the reissue rate on a refinance?
If a policy was issued on the same property within fifteen years and is provided, the NC rate manual charges 50% of the regular rate up to the prior policy amount.