Flood Determination Form Required?

Do we need a flood determination form for a loan secured by vacant unimproved property if we know that they are going to build on it with their own funds (the loan proceeds is only to purchase the vacant land not for the improvements)?

thanks,

No you do not

No. Deal with the improvements if and when you have a request for that financing.

Ok thanks.
The appraisal is considering the improvements even though we are not financing the improvements so we were not sure whether we needed it or not.

Was an "as completed" appraisal requested anticipating the future improvements?

Make sure the file is well documented as to the purpose of THIS loan.

Yes the appraisal was requested anticipating the future improvements.
The purpose of the loan is documented for the purchase of the vacant land.... but it also states the future improvements that will be done at no cost to the borrower ( parent of borrower is paying for the cost of the improvements).

Thanks

Oh! So the property is definitely going to be improved without a loan and your lien will extend to the improvements (unless your mortgage excludes improvements which would be unusual)!

In that case, I would get a flood determination and advise that you will need evidence of insurance once the structure starts to go up.