Definitions for "Flood Certification"
Related Terms:
Special flood hazard area, Flood insurance rate map, Flood certification fee, Sfha, Flood zone, Firm, Flood insurance, National flood insurance program, Nfip, Floodplain management, Loma, Base flood, Flood plain, Floodplain, Elevation certificate, Floodplains, Floodway, Subwatershed, River basin, Community rating system, Federal emergency management agency, Flood warning, Watersheds, Riparian corridor, Flood, Catchment area, Riparian, Lomr, Bottomland, Inundation, Rma, Riparian owner, Drainage divide, Basin, Riverine, Federal insurance administration, Creek, Emergency spillway, Riparian forest, Tva, Watershed, Flash flood watch, River, Fair plan, Riparian zone, Drainage basin, Sra, Fluvial, Riparian area
Required document on all loans. Confirms if the property is in or out of a FEMA designated flood zone.
A third party determination as to whether the property is located in a flood zone. Back to the top
the fee the lender charges to verify whether a property is located in a federally designated flood zone.
An independent agency report required by the lender to determine whether a property is located in a flood hazard zone, which would then require a federally mandated flood insurance policy.
FEMA (the Federal Emergency Management Agency) designates flood zones to indicate which areas have a high risk of potential flood damage. A flood certification indicates wheterh or not flood insurance is required.
Federal law requires that you obtain flood insurance, if you obtain a mortgage, and you property is in a designated flood zone. This fee is paid to a third party to determine the flood zone status of your property, and to notify us of changes to the flood zone map that effect your property during the life of your loan.
A common term for a Federal Emergency Management Agency (FEMA) Standard Flood Hazard Determination Form (SFHDF). This determines whether land or a building is located within a Special Flood Hazard Area for purposes of flood insurance requirements under the National Flood Insurance Program.
The determination as to whether a property is located in a flood zone. If it is, the lender will require federal flood insurance.
The Federal government has determined which areas of land are considered to be flood plains. Flood plains are areas of land that are prone to flooding. The flood certification is made for a specific property to determine whether or not it is in a flood plain.
determines whether the property is located on a federally designated flood plain.
The process of determining whether a property is located within a known flood zone. If the property is in a flood zone, the lender will probably require federally provided flood insurance.
An inspection required to determine if a property is located in a flood zone. The Federal government determines whether an area is in a flood plain. If a flood certification indicates a property is in a flood zone, flood insurance is required to obtain a mortgage.
A report by an independent agency that is required by the lender to determine whether a property is located in a flood hazard zone. If the property is so, then a flood insurance policy is required by federal law.
An inspection to determine if a property is located in an area prone to flooding also known as a flood plain. The federal government determines whether an area is in a flood plain. Lenders generally rely on the flood certification to determine if flood insurance will be required in order to obtain a mortgage. For our comparison purposes, the cost of the flood certification is considered to be a third party fee, though you may find that all lenders do not pass this fee on to the borrower.
A determination by a reputable source about whether property is located within a special flood hazard zone.