Greetings! We have a new Investment RE loan to purchase a home with an attached garage, and also a detached garage structure. Assuming the detached garage structure is not used as an office or living space, does the detached garage exemption apply when we're financing an income producing residential property? Thank you in advance!!

The nature of the loan (consumer/business purpose) has no bearing on the detached structure exemption.

Thank you!

The exemptions to the flood insurance requirement all are defined with regard to the nature or ownership of the property, not the nature of the loan or borrower.

Thank you for the additional info John! One quick follow-up question. Does it make any difference if the house has both an attached, and detached garage?

Please disregard....I reread my question and your responses. Asked, and answered!