"Chris" wrote

Are we talking a real lender (only a couple of handfuls) or a broker?
Most lenders will lend in a flood zone. They use the 100year flood plan
that is given to them when the property is appraised. If the property is
in question, all that is normally required is the property owner to carry
flood insurance on the property. More common sense than anything. I think
your broker might be handing you some.

Most lenders will require that you get Federal Flood insurance if you build
in a flood plane. Either that or you have to put up some other collateral.
Federal Flood Insurance will cover up to $200K in flood damage which usually
means that is the limit of what they will loan.

In southern Louisiana almost 80% of the homes and businesses have Federal
Flood insurance but in Alabama and Mississippi the rate is closer to 15%.

--
Glenn Ashmore

I'm building a 45' cutter in strip/composite. Watch my progress (or lack
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