A Minnesota-based title company has introduced an online closing-cost calculator that it says differs from those offered by competitors by allowing consumers to compare rates of nearly a dozen providers of title and closing services in the area.
"Many title companies have a ‘rate calculator’ on their websites," said Randy Heltemes, president of Minnetonka-based Title-1, in a statement. "But none of them seem willing to compare themselves to all of the top competitors in the market like we do."
In addition to its new "CalcuRater" title and closing-cost comparisons, Title-1 offers calculators that show detailed breakdowns of costs for purchase and refinance transaction. Borrowers who are refinancing may be elligible for a reissue credit or rate for title insurance.
On its website, Title-1 describes itself as "one of the only independent title companies in Minnesota," with "no affiliations with other real estate entities that might influence our objectivity when it comes to the examination, clearing and insuring of our customers’ property titles."