← Glossary
Appraisal and inspection
Elevation certificate
A document from a surveyor or engineer showing a building's height relative to expected flood levels. It can greatly affect flood insurance cost.
Also called: EC
Related terms
Flood zone
An area FEMA maps by flood risk. If a home with a federally backed loan is in a high-risk zone, flood insurance is usually required.
Flood insurance
A separate policy that covers flood damage, which regular homeowners insurance excludes. Lenders require it for federally backed loans on homes in high-risk flood zones; it is available through the NFIP or private insurers.
Survey
A map made by a licensed surveyor showing the property's boundaries, buildings, easements and any encroachments. Some lenders or title companies require one; in other areas it is optional.