What is a Flood Certificate? 

A Flood Certificate (or Flood Determination Certification) is a document issued to accurately assess and certify flood risk for properties or areas with flood hazard determination reports. These reports are based on the flood maps from the FEMA (Federal Emergency Management Association).  

A Flood Certificate is required by your lender which will establish if special flood insurance is required for your property. This is significantly important for homeowners to understand, especially those residing in flood-prone areas. 

Why are flood certificates important?  

Flood Insurance: Most home insurance does not cover floods; therefore, flood insurance is required as a separate policy especially for areas prone to flooding. Flood certificates help in determining flood insurance premiums.  

Property Value: Flood Certificates can impact property values significantly, as properties with lower flood risks tend to be more appealing to potential buyers. Understanding a property's flood risk can have a positive effect on its market worth. 

Tips for property owners:  

Research: If you are unsure if your property is in a flood-prone area, researching local flood maps can provide valuable information and avoid any surprises. 

Stay Informed: Keep up to date on flood zone changes, regulations, and insurance requirements in your area. Flood Certificates may need to be updated as flood maps are amended. 

Flood Certificates may be unfamiliar to many property owners, but their importance should not be underestimated. Understanding flood certificates enables you to make well-informed decisions about your property, safeguard your investment, and improve your awareness of flood vulnerabilities. 

CONNEXIONS’ integration with SERVICELINK:  
 

ServiceLink Flood Services specialize in flood zone determinations and related services. ServiceLink enhances Connexions appraisal reports by providing vital details on flood risk, regulatory compliance, insurance needs, and marketability factors. This boosts the accuracy and thoroughness of appraisal reports, saving time and expediting loan closings. By incorporating this service, appraisers, buyers, and lenders can evaluate the potential impact of floods on property value and make well-informed decisions on purchasing, financing, and insurance coverage. When a Life of Loan Determination Product is included in an order, Connexions forwards it to ServiceLink. Once ServiceLink obtains the Flood Certificate, Connexions retrieves and includes it in the order. 

With a few clicks, you’ll have access to these benefits:

Flood QuickCheck: Quickly identify flood risks for properties, improving borrower experience and loan processing speed. 

Life of Loan Flood Determinations: Review portfolios and ensure compliance with flood regulations, providing convenience for borrowers and seamless loan transitions. 

Streamline your appraisal process with our integration to ServiceLink Flood Services to safeguard your investment. 

This article is for informational purposes only and is not financial or legal advice nor a substitute for legal counsel.