If you've decided life in the great outdoors would be more fun with a getaway place of your own, a Recreational Property Loan can help you get there.  Purchase or refinance your recreational property with an affordable loan from Alaska USA.

Save money with competitive rates on an affordable loan for your dream vacation site.
Save time with a minimum of paperwork and fast loan approvals.

Terms:

Recreational Property Loans are available for properties located in Alaska and Washington.

The loan will be a first deed of trust secured by the recreational property.

Property must be intended for your personal use and have general public access and market appeal.

Recreational Property Loan Guideline

1. Maximum Amount:

75% of appraised value or 75% of tax assessed value supported by an inspection.   Exceptions for lower loan-to-values periodically established by the Board of Directors by geographical area.

2. Maximum Term:

144 months.

3. Type of Lien:

First Deed of Trust.

4. Annual Percentage Rate:

Periodically established by the Board of Directors.

5. Fees:

Periodically established by the Board of Directors.  (See Fees.)

6. Miscellaneous:

Title search, title insurance policy, plat map and appraisal or current tax assessment are required.  Appraisals on loans over $50,000 may be required consistent with the Real Estate Loan Property Appraisal Policy.  Insurance coverage will be required whenever the value of the improvement, if any, is considered in the loan-to-value determination.

7. Restrictions:

Limited to those properties intended for the member's personal use determined to have general public access and market appeal.  New loans granted under this guideline may be suspended or otherwise restricted from time to time by the Board of Directors.

This guideline is approved by the Board of Directors and is effective on May 26, 2004.

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