Home Buying in Wisconsin>Question Details

Unclebeezer, Home Buyer in Adell, WI

Buying a home in a zone A flood plain?

Asked by Unclebeezer, Adell, WI Mon May 20, 2013

Found a house we really like and believe I can get a pretty good deal on. The home is a zone A floodplain. It's a split level ranch with the basement completely finished. Is it worth doing? Thanks for any help.

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You are going to need flood insurance and the amount will be based on many different things. Best to call FEMA and get the straight scoop just so you know what you are getting into. Flood insurance can be very expensive. Your lender will most likely require you to carry enough to pay off your loan. That is just part of what the cost is based on. Once you pay off the home, it is your call.
0 votes Thank Flag Link Mon May 20, 2013
The lender will require Flood Insurance and in order to get that you will most likely have to get an Engineer Certification and they can be expensive. Better discuss this with your Loan Officer so you know the whole story going into it, rather than getting knee deep in the deal.

Best of Luck!
0 votes Thank Flag Link Mon May 20, 2013
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