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#2280591 - 02/03/23 07:07 AM Construction loan on property partially in flood
IronP2717 Offline
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Joined: Feb 2018
Posts: 146
Consumer mortgage construction. 1 end of the lot is in flood zone, 1 end is out. We have a survey marking the proposed location of the home in the part of the lot out of the flood zone. Is that sufficient to say the home won't be in the flood zone? If not, what are next steps?

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Flood Compliance
#2280595 - 02/03/23 02:09 PM Re: Construction loan on property partially in flood IronP2717
Dan Persfull Offline
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Dan Persfull
Joined: Aug 2002
Posts: 47,530
Bloomington, IN
We would submit the survey to our vendor and they would issue a determination that the property is partially in a SFHA but the building plots outside the SFHA.
_________________________
The opinions expressed are mine and they are not to be taken as legal advice.

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#2280605 - 02/03/23 03:48 PM Re: Construction loan on property partially in flood IronP2717
IronP2717 Offline
100 Club
Joined: Feb 2018
Posts: 146
Thanks Dan. We've had a couple of difficult flood scenarios lately. I guess that just seemed too easy.

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