Most Colorado mortgage lenders will not finance residential properties located in a designated flood zone, unless you obtain the required level of flood insurance from the agency of your choice.
There are some government loan programs that disallow loan proceeds to be used for any real estate located in a designated flood zone.
Your Denver Colorado mortgage company may charge you a nominal fee to determine if your property is located within a designated flood zone.
If it is determined by your Denver mortgage company, that you are within a flood zone, you be will notified prior to loan closing.
If flood zoning changes while a Denver mortgage company is servicing your loan, you may be required to obtain flood insurance.
When your Denver Colorado mortgage appraisal is completed, the appriaser will indicate whether or not your Colorado real estate is located within a flood zone.
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