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My condominium is on the fifth floor of a multi-story building located in a Special Flood Hazard Area (SFHA). Is my loan subject to the regulatory requirements for flood insurance?

Yes. The mandatory flood insurance purchase requirements apply to loans secured by individual residential condominium units. This includes those units located in multi-story condominium complexes that are located in an SFHA in which flood insurance is available under the National Flood Insurance Act.

Refer to 42 USC 50 "National Flood Insurance Act."

Last Reviewed: April 2021

Please note: The terms "bank" and "banks" used in these answers generally refer to national banks, federal savings associations, and federal branches or agencies of foreign banking organizations that are regulated by the Office of the Comptroller of the Currency (OCC). Find out if the OCC regulates your bank. Information provided on should not be construed as legal advice or a legal opinion of the OCC.

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