Is your house in a flood zone?

[pianoman9701]

When you buy a home or refinance one that's in a flood zone, you'll need FEMA flood insurance. The maximum insurance for a private home is $250,000 for the house and $100,000 for possessions. In a sale, you're unlikely to get a loan if the value of the structure and loan exceeds $250,000. The insurance is also pricey. The flip side of this is that normally, the lender will only require that the amount of the principal is insured. In other words, if you're refinancing your home and the new loan is only $125,000, the lender will likely only require flood insurance for the $125K, even if the structure is worth more.

[ghosthunter]

I live in a flood zone. Has not flooded in the 40 years I have been here. When we paid off the house we cancelled the flood insurance. Real pricey the last few years.

[KFhunter]

I'm seeing some news that may have some folks wishing they had flood insurance in the near future 

[Bob33]

I think some areas may be considered flood zones in the future which never were previously. I drove through some roads today that were flooded, and I've not seen that ever happen before in those spots.

[HntnFsh]

Flood insurance quadrupled or better a few years ago.
Fortunately I was in a position to dump mine.
House is free and clear and with Mossyrock dam and Riffe Lake situation I am 100 % sure I won't need it in my lifetime.

Sorry for the hijack pianoman.
I appreciate you sharing all the info you do to help potential buyers make wise decisions.

[Stein]

   Great tidbits here, put them all together and a guy would be pretty knowledgeable about homes.