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Can a mortgage lender require me to buy flood insurance?

Yes
69%
In most cases
7%
In some cases
19%
Not sure
4%
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Question: Can a mortgage lender require me to buy flood insurance?
Top Answer (69% of 42 votes): Yes.

Answer: Yes
Explanation: In certain flood-prone areas, the federal government requires flood insurance to secure mortgage loans backed by federal agencies such as the FHA and VA.
Pilgrim Mortgage Llc
Answer: Yes
Explanation: If the property is not in a high risk area, but instead in a moderate to low risk area, federal law does not require flood insurance, however, a lender can still require it.
Amerifirst Home Mortgage
Answer: In some cases
Explanation: If the home being purchased is in a designated flood area, then the lender may require it. If not in a flood area, then they may not require it.
Union Savings Bank
ProMatcher
Answer: Yes
Explanation: If the property is not in a high-risk area, but instead in a moderate to low risk area, federal law does not require flood insurance. however, a lender can still require it.
Atlantic Mortgage and Finance Corporation
Answer: Yes
Explanation: Yes the Mortgage Lender can require you to have flood insurance or they can refuse you a mortgage.
EA Realty LLC
Answer: Yes
Explanation: If you are located in a flood zone, you would be required to have flood insurance to close the loan After closing, you would be required to keep the flood insurance unless you are deemed no longer in a flood zone.
American Equity Mortgage, Inc.
ProMatcher
Answer: Yes
Explanation: if you are in a flood zone yes for sure
United Northern Mortgage Bankers, Ltd.
Answer: Yes
Explanation: If property is deemed to be in a flood zone.
Beddard Mortgage Team
Answer: Not sure
Explanation: I have no clue about this
AMR CompaniesLtd.
ProMatcher
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Free Insurance - Flood Cost Estimates

Related Questions

My house has flooded in the past. Can I still purchase flood insurance? Top answer: Yes

Can I still buy flood insurance if I don't live in a high-risk flood zone?Top answer: Yes

Does flood insurance typically cover earthquake-related flooding?Top answer: No

Can renters purchase flood insurance?Top answer: Yes

Would you recommend purchasing flood insurance through the National Flood Insurance Program (NFIP)?Top answer: Yes

Related Topics

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Insurance - Flood
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