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Financing a very personal investment
Recreational property can be a rewarding asset in your portfolio, as well as a source of long-term enjoyment. That's why you may want your financial strategy to reflect your strategic vision for the purchase, preservation and enhancement of your family's land. At Bank of America, we recognize that each of our clients has unique objectives. Whether you're looking to diversify your portfolio, use the land for recreation, or provide for future generations, let us help you with credit needs for this significant facet of your legacy.
Whether you are purchasing a new property or leveraging an existing property’s equity, you can benefit from our competitive rates and timely response time. We finance many types of recreational properties, including
We recognize that an investment in recreational real estate has personal and financial dimensions. Your advisor can work with you to help tailor a financing solution that addresses both sets of goals.
As a client of Bank of America, you will enjoy the benefits of financing tailored to your particular real estate investment goals. Our experience has been that our rates are competitive with those of other providers, and we are committed to guiding you through the closing process and on to the enjoyment of your property as quickly as possible. We offer both consumer and commercial lending channels and can focus on your transactions, as well as provide additional benefits that may include:
Bank of America’s underwriting sophistication and capabilities allow us to create financing based on your unique needs, with the combined experience across a wide range of credit products. The result is a uniquely customized credit solution aligned with your personal objectives.
In addition to customized recreational real estate financing, Bank of America can deliver access to a wide spectrum of credit capabilities and a depth of resources, experience and capital strength that few financial institutions can match. The critical dimension Bank of America brings to this relationship is a high level of personal service, because you work with knowledgeable credit specialists who seek to ensure that your credit strategy effectively complements the other key components of your wealth management plan. With Bank of America’s capital base, there is flexibility to fund significant loans while offering competitive terms and interest rates. Because time may be a critical factor as you evaluate different financing options, we provide a prompt and informed response to all credit requests.
For more information contact your advisor.
Nonfinancial assets, such as closely held businesses, real estate, oil, gas and mineral properties, and timber, farm and ranch land, are complex in nature and involve risks including total loss of value. Special risk considerations include natural events (for example, earthquakes or fires), complex tax considerations and lack of liquidity. Nonfinancial assets are not suitable for all investors.
Credit facilities are provided by Bank of America, N.A., Member FDIC, its subsidiaries or other bank subsidiaries of Bank of America Corporation, each an Equal Opportunity Lender. All loans and collateral are subject to credit approval and may require the filing of financing statements or other lien notices in public records. Asset-based financing involves special risks and is not for everyone. When considering an asset-based loan, consideration should be given to individual requirements, asset portfolio composition and risk tolerance, as well as capital gains, portfolio performance expectations and investment time horizon. A complete description of the loan terms will be found in the individual credit facility documentation and agreements. Clients should consult with their own independent tax and legal advisors.
Custom lending may involve special risks and may not be appropriate for all clients. In particular, structured lending may be subject to additional credit and legal approval because of special risks and restrictions that need to be carefully considered. Real estate financing and specific program options and property types may not be available in all states and may be subject to change from time to time. As a general rule with respect to each client, consideration must be given to capital gains tax implications, portfolio makeup and risk tolerance, portfolio performance expectations, and investment time horizon.