Five federal regulatory agencies are issuing a joint notice of proposed rulemaking to amend regulations pertaining to loans secured by property located in special flood hazard areas. (nar.realtor)
And if you live in a FEMA - designated special flood hazard area (SFHA), you'll also need to purchase flood insurance to qualify for a VA loan. (valuepenguin.com)
For example, in Virginia, owners are not required to disclose whether a property is located in one or more special flood hazard areas. (smartasset.com)