Case Study

Multifamily

Refinance Requirement for Flood Insurance Avoided

Boise, ID

Image of Multifamily property for Refinance Requirement for Flood Insurance Avoided

Slashing Refinance Red Tape

Solutions Found:

LOMA

Solutions Value: Refinance Red Tape Avoided

NFE Solution: LOMA

Our Client, an owner of a multifamily property in Boise, ID, was refinancing the property when a surprising lender mandate for flood insurance threw a wrench in their plans. NFE provided a comprehensive solution to the Client's challenges. First, NFE gathered the relevant documents and performed the complimentary desktop engineering review, qualifying all three buildings for removal from the Special Flood Hazard Area (SFHA) via a Letter of Map Amendment (LOMA).

The NFE team prepared an airtight case and submitted it to the Federal Emergency Management Agency (FEMA). Thanks to NFE's efforts, the LOMA was approved in less than a month, removing the buildings from the high-hazard flood zone, eliminating the lender's flood insurance requirement, and clearing the red tape for the owners to proceed with the refinance.

View Other Case Studies

Image of Residential property for $130K+ in Added Property Value Across TX Portfolio

$8K in Insurance Mandate Removed

$130K+ in Added Property Value Across TX Portfolio - Multiple, TX

See how NFE's expertise helped one of the largest Real Estate firms in South Texas explore options to reduce flood insurance premiums and add over $130K in property value to their portfolio of properties.

Image of Land property for Utah Property Successfully Reclassified to X Zone

5 Bldgs. Reclassified from SFHA

Utah Property Successfully Reclassified to X Zone - Hurricane, UT

Explore how a Hurricane, UT, property (Duplex, 3 Sheds, 1 Storage structure, and the land!) were reclassified to an X-zone, removing lender mandates for flood insurance and increasing property value significantly.

Image of Multifamily property for Lender Mandates Removed For A Multifamily Building in Oklahoma City, OK

$120,000 in Added Property Value

Lender Mandates Removed For A Multifamily Building in Oklahoma City, OK - Oklahoma City, OK

Discover how NFE successfully removed a multifamily building in Oklahoma, OK, from a complex A flood zone. After conducting a thorough Flood Expert Survey, we obtained FEMA's approval for a LOMA, saving the client nearly $7,200 per year on flood insurance and boosting property value by approx. $120,000.