Construction to Permanent Financing should be used when North Dakota Guaranty & Title Co. will be asked to issue a lender’s title insurance policy to insure the permanent financing of the newly constructed improvements. A search of the public records is conducted, and a lender’s title insurance premium is charged. Upon closing and recording of the mortgage to be insured, a lender’s title insurance policy is issued. The Title Commitment will reflect the lender providing the financing along with the dollar amount of the mortgage(s); which will be the face value of the policy to be issued.
An owner’s title insurance policy may also be issued at a special simultaneous rate. The owner’s title insurance policy will insure the owner(s) of the subject property for the appraised value of the subject property.
To order Construction to Permanent Financing, please click here.