Case Study

Multifamily

Refinance Requirement for Flood Insurance Avoided

Boise, ID

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 Mississippi Multifamily Property Successfully Removed from Flood Zone

$225,000 Added Property Value

Mississippi Multifamily Property Successfully Removed from Flood Zone - Starkville, MS

Discover how an introduction to NFE from their insurance broker helped a Multifamily Property in Starkville, MS, save $13,500 in flood insurance premiums and add $225,000 in property value. Working with NFE to uncover savings opportunities is a win for insurance agents and policyholders.

Image of Multifamily property for New Mexico Multifamily Property Increases NOI by $18.6K

$310,000+ Added Property Value

New Mexico Multifamily Property Increases NOI by $18.6K - Bernalillo, NM

Learn how NFE's comprehensive review process eliminated lender mandates for flood insurance, saving a New Mexico multifamily property $18.6K annually while also increasing property value by $310K.

Image of Multifamily property for Multifamily Property Adds $75K in Value

$75K in Added Property Value

Multifamily Property Adds $75K in Value - Texarkana, AR

Learn how National Flood Experts helped a client increase the value of their multifamily property in Texarkana, AR, by $75,500. Through NFE’s comprehensive engineering review, one building was successfully removed from the high-risk flood zone, eliminating the lender mandate for flood insurance and decreasing annual expenses by $4,500+ while also increasing property value.