Loan request to purchase lot and new construction of building. Property currently has two structures on it, both of which are being raised for customer to start new construction. One of the two structures is in a flood zone; new planned construction is not in a flood zone. So initial flood determination obtained on property says portion of the property is located in a flood zone. Are we still required to obtain flood insurance on this structure (even though it will eventually be raised)? I know with construction loans, you are allowed under the rules to obtain flood insurance at origination OR alternatively, you can obtain once the foundation has been poured or an elevation certificate is obtained, as along as you have internal controls in place to monitor.