Hello! This is Joe Harris with Morgan Financial and here is your “Joe Knows Mortgages MINUTE.” This week, we answer the question: When is flood insurance required on a home?
When it comes to getting your home insured, flood insurance is not typically covered by traditional homeowner’s insurance. The good news is, it’s not always required! If your home is located in an area designated by FEMA as an area at high risk of flooding, your lender will typically require you to have additional flood insurance.
Everyone’s situation differs depending on your individual qualifications and mortgage needs, as well as loan program, so contact us or book your loan consultation today to get started on your homebuying journey with our team of mortgage experts you can trust!
Thank you for tuning in to this Joe Knows Mortgages Minute. If you have any home loan related questions, we want to hear from you, so please comment down below! If you liked this video, please share this information with your family and friends. See you next time!