Basic Flood Insurance Questions

I am getting a loan from the bank to build my house.  Who decides whether or not I must purchase flood insurance for my new home?

Your bank or lending agency makes this decision.  However, if your home will be located in a SFHA, your lender may have little choice in the matter.  For certain types of commonly available loans, lenders are mandated under federal law to require the purchase of flood insurance.

I am getting a loan from the bank to buy a manufactured home.  Who decides whether or not I must purchase flood insurance for my new home?

Your bank or lending agency makes this decision.  However, if your home will be located in a SFHA, your lender may have little choice in the matter.  For certain types of commonly available loans, lenders are mandated under federal law to require the purchase of flood insurance.

My new home will be located near a special flood hazard area (SFHA).  According the Flood Insurance Rate Map, some of my land is located in a SFHA (Zone A, flood-prone area), but the structure itself will be outside the SFHA.  Do I still have to purchase flood insurance?

Please keep in mind that your lending agency makes the final decision about whether or not you must purchase flood insurance.  However, if no part of your house or manufactured home is located in the SFHA, your lender will not be mandated by federal law to require you to purchase flood insurance.