Requirements for One-to Four-Unit Properties

The minimum amount of flood insurance required for Homium mortgage must be equal to the lesser of

• 100% of the replacement cost value of the improvements,

• the maximum coverage amount available from NFIP, or

• the unpaid principal balance (UPB) of the loan (or loan amount at the time of origination).

See Mortgagee Clause for Property and Flood Insurance and Named Insured for Property and Flood Insurance in Mortgagee Clause, Named Insured, and Notice of Cancellation Requirements for mortgagee clause and named insured requirements.