Have an appraisal that shows that nearly 3/4 of the applicant's property is a non-meandered lake.
Anybody have any experience with this type of property?

Here is a good article from the DNR.

http://files.dnr.state.mn.us/publications/waters/Pardon_Me_Myth.pdf

Thanks Joker! I had no idea what this term meant either. The article was helpful.

I got the 'what' of it. I was wondering if anyone has ever lent on property that was currently under water...literally. House is not even shown in a flood zone but 3/4 of the acerage is currently under 15 feet of water. FNMA doesn't speak to it.

It's waterfront property...I look at these as the property lines go to the middle of the lake from all property lines...like a pie.

The lakes around here, your actual property only goes just a little ways into the water. I like the 'pie' better.

I could see no problem with a flood zone...so many times the land rises sharply before you get to any structures.

When I lived on the river, I was within jumping distance of the water...but the entire town would have flooded before it could ever get to me...and if that happened...we'd need an Ark...no kidding.