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Commercial Loan-Can Flood Premium be Financed?

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Question: 
On a commercial loan, can the flood premium be financed?
Answer: 

There is no prohibition against financing the premium, but if the policy is not paid for until after the loan closes, how do you have proof of insurance at closing? Proof of insurance is either a declaration page or an application with proof of payment.

First published on 08/19/2018

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