FEMA has been making a number of changes since last winter.
Currently, you should expect to pay the same premium the seller is paying. That amount could increase 18% after the first year.
There is a lot to learn about flood insurance, and it can be very confusing!
I have a listing whose owners applied to FEMA for a LOMA (letter of map amendment)...as a result, the home was removed from the flood zone............sellers are elated (they now save $2515 in yearly premiums). I am sure potential buyers will also be elated and not hesitate now that the flood insurance requirement has been removed.
Anyway, speak to a local insurance agent and get the most recent news.