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Thrifty Mortgage
Flood insurance is required when the FEMA map shows the property is in a flood zone. The lender checks every property against the FEMA map and if the property comes back in a flood zone, then flood insurance will be required and will be added to the mortgage payment. 

Flood insurance can be expensive and make a big difference to the mortgage payment.which is why you need to know if the property is in a flood zone prior to making an offer on the home. This is especially important to do if the property is located near a lake or creek. You can research the property by clicking HERE

If the property is in a flood zone, the lender and insurance company will more than likely will require an elevation survey. This survey shows the lender and/or insurance agent how much of the actual dwelling is in the flood zone and helps to determine the amount of coverage needed for flood insurance. 

If the dwelling is not in the flood zone but the land is, then the lender MAY not require flood insurance, but this will need to be addressed with the lender and weighed heavily by you. You will need to discuss all scenarios with a professional in the insurance business to ensure you are properly covered. 

Any damage to the dwelling that results from outside water will not be covered by an insurance company unless you have flood insurance. This is the reason you need to make sure to be thoroughly educated regarding the chances of flooding on the property of interest. 

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