We have a loan secured by a mobile home used as a rental and real estate. The value of the land is $56,000. The ACV of the MH is $39,423 according to the appraisal. We have $34,000 in flood insurance on the MH. The LO appears to have deducted the value of the land from the loan balance $90,000 to arrive at the required amount of flood insurance. Is this sufficient flood coverage? Is the value of the land a consideration? thanks.

$39,423 is your minimum coverage requirement. The value of other collateral is never a factor in determining your minimum coverage, unless that collateral is also a qualified structure located in a SFHA requiring flood insurance.

Thanks Dan. The flood tool is a great assist. Thanks.