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Updated almost 7 years ago on . Most recent reply
Flood Insurance Needed? Manmade Lake, Building not in Flood Zone
I googled for the answer but didn't find much.
I'm looking at a set of three duplexes nearby a manmade lake. The buildings clearly are not in the flood zone but part of the parcel is.
The loan will be a commercial loan, not a Fannie/Freddie backed loan.
Will the bank require I have flood insurance? I will of course ask them but also looking for some input from the community....
Most Popular Reply
Jason Bott
#2 Insurance Contributor
Pro Member
#2 Insurance Contributor
- Insurance Agent
- Nationwide
@Josh Stack the loan will only require Flood insurance if the footprint of the building, not the lot, is in the flood zone.