is there a loan that does not require flood insurance?

[David T]

i currently own a property that is considered to be in a "flood zone". i dont consider it to be a flood zone myself as there is a small stream in the back yard that is not tidal and it has not flooded during irene, sandy or any major storm. my issue is that my current mortgage requires flood insurance however the only part that could ever flood really is the basement and there is nothing at all in the basement. i was looking into a home equity loan but it seems they require flood insurance as well. has anyone had any luck getting any kind of loan without requiring flood insurance? i am paying $1000 a year and want out!

[Dion DePaoli]

Any conventional loan will require flood insurance if you are in a flood zone. New flood maps were just updated after Sandy hit. It sounds like you are going to be in a flood zone no matter what due to your proximity to the stream.