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.
Repairing water damage can be very expensive depending on the location and extent of the damage. Costly damage occurs when water comes in contact with wood, sheetrock, fabrics, or other biodegradable material like paper or cardboard. Left untreated these develop mold, causing other health and safety issues. The most important aspect of repairing water damage in your home is to catch it as early as possible.