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#2245950 - 11/30/20 05:23 PM bridge loan
parr04 Offline
Gold Star
Joined: Aug 2004
Posts: 394
oklahoma
We are looking at a consumer bridge loan to purchase primary residence that is in a SFHA.
It will be a one year interest only loan. Will we have to escrow the flood insurance premiums on this loan?

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Flood Compliance
#2245953 - 11/30/20 05:44 PM Re: bridge loan parr04
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,490
Galveston, TX
Flood insurance escrow requirements do not apply to:

(F) The loan has a term of not longer than 12 months.
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