National Flood Insurance

Definition of "National flood insurance"

Insurance based on the National Flood Insurance Program, enacted By Congress in 1968. The intent of this legislation is to provide insurance coverage for those people suffering real property losses as a result of floods. To encourage the buying property located in a flood plain area cannot be financed through a federally regulated lender unless flood insurance is purchased.

Search Real Estate Glossary

Related Real Estate Glossary terms

Incorporation Into Funding Agreement

Factors taken into account concerning the instrument used in funding a pension plan. For example, an ...

Soft Market

Real estate market where supply significantly exceeds demand enabling potential buyers to obtain low ...

Affirm

To confirm, ratify, verify, and accept a transaction that can be canceled. ...

Accelerated Option

Life insurance policy provision under which the policyholder may apply the accumulated cash value, i ...

Exhibition Insurance

Coverage provided on an all risks basis for an exhibitor whose product, while being displayed at a p ...

Penthouse

Edifice constructed on the to floor of a building usually occupying less than 1/2 the roof area. A p ...

Related Real Estate FAQ

What Is A Housing Ratio?

A housing ratio is the percentage of your housing payment (principal, interest, taxes, and insurance ...

What Is Equity?

Equity is the financial interest or cash value of your home, minus the current loan balance(s). If s ...

What Is An Investment Property?

An investment property is a property you purchase with the intension of using it as a rental income ...

What Is A Term?

A term is the length of a loan. ...

What Is Commission?

The fee an agent earns for the sale of a home-usually a percentage of the selling price. ...

What Is A Convertible ARM?

A convertible ARM is an adjustable- rate mortgage (ARM) that can be converted into a fixed rate mort ...

Read why Real Estate Agent rates 5 Stars in 10 Agent Reviews

Agents join here

Add our widget on your Website

Real Estate Advice

How to become a real estate agent Should you Buy a Home with Cash? What is Earnest Money Real Estate Open House - The Dos and Don What is Escrow and how does it Work?

FAQ

How can I figure out my debt-to-income ratio? What is a gated community? What do I need to know about Watercraft Insurance? What do I need to know about Homeowners Insurance? What is a private Mortgage?