Case Study

Multifamily

Houston Multifamily Property Saves Over $31K in Premiums

Houston, TX

$500,000 in Added Property Value

Solutions Found:

Flood Expert Survey

LOMA

Solutions Value:≈$31K in Lender Mandates Removed, Adding $500,000 in Property Value

NFE Solutions: FES; LOMA

National Flood Experts' engineering review revalidated a multifamily property's Letter of Map Amendment (LOMA) compliance, including newly built structures, removing lender mandates for flood insurance, and saving over $31,000 in premiums in Houston, TX.

A newly acquired multifamily property in Houston, TX, was faced with hefty lender mandates (including excess!) as the lender did not recognize an existing LOMA due to the addition of new structures on the property.

The owner's insurance agent introduced them to National Flood Experts. The NFE team visited the site and performed a Flood Expert Survey (FES) to gather current data. The FES proved worthwhile, with the data revalidating the existing LOMA while also qualifying the new buildings for removal from the SFHA. After providing the LOMA, the lender removed all mandates for flood insurance! The project made a huge impact on the property value, with an increase of $500,000.

NFE's solutions proved to be essential in boosting NOI early, providing significant savings, and adding a substantial increase in property value for the new owners.

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≈$123K in Property Value Added

LOMA Success for Randolph, MA, Affordable Housing Community - Randolph, MA

Explore how National Flood Experts helped an affordable housing community in Randolph, MA, increase the value of their property by nearly $137,000, remove lender mandates for several buildings, and improve annual NOI by $7,300+. Through NFE’s comprehensive engineering review, three buildings were successfully removed from the high-risk “A” flood zone.

Image of Commercial property for Hotel & Restaurant Saves $47.5K

$47,590 Policy Reduction

Hotel & Restaurant Saves $47.5K - Chesapeake Beach, MD

A restaurant in Chesapeake Beach, MD was paying nearly $50k annually on flood insurance premiums & ended up realizing $47,590 in savings after working with NFE.

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Flood Insurance Mandates Removed

NH Homeowner Relieved of Rising Flood Insurance Costs - Bedford, NH

A homeowner in Bedford, NH, faced skyrocketing flood insurance premiums, nearly doubling their mortgage payments. They sought relief and their insurance agent recommended NFE as a trusted partner. NFE conducted a complimentary engineering review, qualifying the property for a LOMA. NFE assisted throughout the FEMA submission process, addressing RFIs and ensuring smooth progress. The homeowner obtained a LOMA, eliminating the need for flood insurance, improving property value and marketability.