SMART Policy Rates
| Coverage |
Rate |
| up to $50,000.00 |
$125.00 |
| $50,001.00 to $100,000.00 |
$150.00 |
| $100,001.00 to $150,000.00 |
$175.00 |
| $150,001.00 to $200,000.00 |
$200.00 |
| $200,001.00 to $250,000.00 |
$225.00 |
| $250,001.00 to $300,000.00 |
$250.00 |
| $300,001.00 to $350,000.00 |
$275.00 |
The Standard Mortgages Assurance of Record Title (SMART) Policy is used to insure an equity loan in a first or junior lien position. Unlike the Junior Loan Policy, a commitment is issued prior to recording the mortgage and the SMART Policy can be issued on a first position home equity loan.
The SMART Policy is available for one-to-four family residence equity loans only (not for purchases – the borrower must already be the owner of the land). The loan may be in a first lien or junior lien position, and the limit of liability is $350,000.00.
