Second Mortgage Lien Insurance

J.T. Miller Company

Homeowners often use a second mortgage as a way to create value for their homes through improvements, remodels and additions. For lenders, that means knowing who has liens on properties, and what order they’re in. It also means lenders should be insured against unknown liens that could bump your institution out of planned lien position. That’s why J.T. Miller Company offers our second mortgage lien insurance coverage plan.

Qualifications Guidelines & Eligible Properties

  • Loan amounts up to $500,000 for Home Equity, Second Mortgages and Home Improvements.
  • First mortgage refinances of up to $500,000.
  • Loan-to-value doesn’t exceed 100%.
  • Loan must be submitted for recording within 21 days of loan closing.
  • One-to-four resident, residence or condominium.
  • Property must be located within the United States.
  • Per loan cost is between $55-$75.
Coverage responds when

  • Previously unknown, undisclosed or intervening liens are discovered and affect the status of the loan.
  • Loan is typically in default before claim is paid.
Benefits of Second Mortgage Insurance

  • Insurance for lien position in the event loans default.
  • Reduction of closing costs.
  • Save time by not having to wait for title searches to come back.
  • GAP Coverage: You’re insured against liens being recorded ahead of yours.
  • No expense for loans that do not close.

See what our satisfied clients say about us

"Thanks again for doing such a great job for us, and answering ALL of our questions! We love working with you and the entire staff at J.T. Miller."

Kathy Junker

VP of Real Estate Mortgage, First State Bank & Trust - Bayport

"We really appreciate Wade & Kurt from J.T. Miller as they have taken time to explain in detail our insurance options and coverage. Because of Wade and Kurt, we believe that we have purchased the best Bond and D&O Coverage possible. Kudos to J.T. Miller!"

Dean M.

President & CEO, VisionBank

Contact Us

Whether you’re refinancing the first mortgage or issuing the second, contact the team at J.T. Miller Company to see how to best protect your investments.


J.T. Miller Company
PO Box 218
Hamel MN 55340

Fax: 763-512-2818

Hours: 8am - 4:45pm Mon.-Fri.


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