Your Refi Just Changed Your Flood Insurance Requirement—Here's Why

3 Просмотры

  • Спасибо! Поделитесь с друзьями!

    Вам не понравилось видео. Спасибо за то что поделились своим мнением!

admin
Издатель
Refinancing your home in flood zone AE? Before you sign your closing documents, watch this. A refinance is treated as a brand-new loan — which means your lender pulls a fresh flood determination and can require flood insurance you never had before. Wait until closing and you risk getting stuck with expensive, force-placed coverage the bank picks for you.

I'm Chris with The Flood Insurance Guru. For almost 15 years I've helped zone AE homeowners get the coverage their lender requires without overpaying. In this video I break down exactly what triggers a flood insurance requirement on a refinance — and how to stay in control of the cost.

What you'll learn:

Why a refinance (and cash-out refi, HELOC, or home equity loan) triggers a new flood determination
How force-placed / lender-placed insurance works — and why it's almost always more expensive
Why lender-placed coverage only protects the bank, not your belongings or loss of use
How to shop 3–5 quotes and compare NFIP (federal) vs. private flood insurance — often ~50% less
The one question to ask so your lender accepts a private policy: "Does this include the private flood insurance clause?"
Why you should insure to replacement cost, not just your loan amount

Three simple steps when you're ready:

Head to our website and find your property's flood risk score
Connect with one of our flood risk advisors
Let's get your policy locked in before you sign

Категория
Рефинансирование кредита
Комментариев нет.

Следующее