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 Multifamily property for Multifamily Property in Reidville, NC Realizes $120K Property Value Increase

$120,000 in Added Property Value

Multifamily Property in Reidville, NC Realizes $120K Property Value Increase - Reidsville, NC

Explore how a Reidsville, NC, multifamily property added an estimated $120,000 in property value thanks to National Flood Experts' (NFE) comprehensive engineering review and Flood Expert Survey (FES). NFE's analysis, supported by on-site data collected during the FES, qualified the property for removal from the high-risk flood zone, eliminating the lender mandate for flood insurance and decreasing annual expenses by nearly $7,200.

Image of Multifamily property for Multifamily Property Increases NOI by $10K

$166,000 in Added Property Value

Multifamily Property Increases NOI by $10K - Overland Park, KS

Discover how a multifamily property owner in Overland Park, KS, added approximately $166,000 in property value and increased NOI by nearly $10,000 by working with National Flood Experts (NFE) thanks to an introduction from their insurance broker.

Image of Multifamily property for LOMA Success for a Multifamily Property Clipped by a Floodway

≈$178K in Property Value Added

LOMA Success for a Multifamily Property Clipped by a Floodway - Buckhannon, WV

Learn how National Flood Experts helped a multifamily property owner pulled into the SFHA by a map update achieve LOMA success, save $10,700 in annual premiums, and increase the value of their property by more than $178,000.