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Affordable Homeownership Settlement Bundle |
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Under a special First American program, low-to-moderate-income families who seek to purchase a home may be eligible for a bundled and discounted package of title insurance and related closing and settlement services.
This program, established in California in 2003 and eventually available nationwide, is intended to help simplify the home-buying process and reduce closing costs by an average of 25 percent for eligible California homebuyers.
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Retail Pricing |
New Affordable Housing Settlement Package |
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| Title Insurance |
$1,393 |
Included |
| Closing |
$740 |
Included |
| Credit |
$18 |
Included |
| Flood |
$18 |
Included |
| Appraisal |
$400 |
Included |
| Home Warranty |
$400 |
Included |
| TOTAL |
$2,969 |
$2,280* |
| * This example is based upon the purchase of a $300,000 home in Alameda County, California. Settlement package prices vary by county. |
Not only will these reduced settlement costs allow more people to enter the home-buying market, but this market expansion will also increase the potential customer base for the real estate agents that serve these areas. |
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| First American. All you need to know. |
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Affordable Homeownership Settlement Bundle