Fixed Rate Mortgage. A mortgage where the interest rate remains the same through the term of the loan and fully amortizes is known as a fixed rate mortgage. Since the interest rate remains constant, monthly payments donât change. Fixed rate mortgages come with terms of 15 or 30 years.
1 For 1-4 inches of water, the estimated cost is $7,800. For 9-12 inches, the estimate is $18,930. At 18 inches, the estimated cost is $26,285..  Water damage might be covered by insurance. Flood insurance typically covers damage from a natural disaster, when outside water or mud overflows an otherwise dry house.
The Extent of the Damage. The larger the affected area, the higher the water damage repair cost. Most water restoration repair companies base their initial estimates on the square footage of the area they will be working to restore. Similarly, the extent of the damage will have an effect on the project costs.