Call: 800-908-8845 CONTACT US APPLY NOW HOME IRA NON-RECOURSE LOANS CRP PAYMENTS RESOURCES ABOUT CONTACT Non-Recourse Loan Experts One of the Nation's Leading IRA Non-Recourse Loan Lenders Get Started Contact Us Today Do not fill this form out if you're a solicitor. Name First Last Email Phone Questions or Comments* CAPTCHA Expect Better With First Western Federal Savings Bank We refer to ourselves as a “Common Sense Lender.” What do we mean by that? It’s simple. We’ll take a look at most all types of real estate investments, and if it makes sense – we do it. If you’re interested in applying for a non-recourse loan with your self-directed IRA, get in touch with our team today! Apply Now Did you know… Non-recourse loans are secured by collateral. Should the borrower default on the loan, the lender has no recourse other than the sale of the subject piece of real estate should the IRA default on the loan. Some examples of acceptable properties are: Single Family Dwellings Multi Family Dwellings Commercial Real Estate Farms With Income (Rental or CRP Income) Vacation Rental by Owner First Western Federal Savings Bank will consider other collateral options on an individual basis. Examples include (but are not limited to) well-seasoned notes and mortgages. Types of Collateral for Self-Directed IRA Non-Recourse Loans We’re a bank and non-recourse lender that provides loans nationwide, but we still maintain our “small town feel.” We’re not just here to write another loan, we want to make sure it’s a good investment for you. Since 1979, we’ve been providing great customer service and honest conversations about self-directed IRAs and non-recourse loans. We’re here to help you achieve your real estate investment goals. Acquiring a Non-Recourse Loan With Your Self-Directed IRA When applying for a loan with your self-directed IRA, the loan needs to be structured as a non-recourse loan, and there are a few other restrictions to keep in mind (otherwise the IRS can decide that the loan doesn’t qualify for deferred tax). Considerations For Self-Directed Non-Recourse Loans You can’t borrow money from yourself: Borrowing from, selling, or lending to your IRA would be considered a conflict of interest, as well as any corporations, LLCs, or trusts that you may manage. Prohibited parties: Your spouse, children, parents, or grandparents, as well as relatives of your spouse are prohibited from borrowing, selling, or lending to your IRA. The loan must be in the IRA’s name: When First Western Federal Savings Bank issues you the loan, the check should be made out to your IRA, not to you personally. You can’t sign a personal guarantee: A personal guarantee states that the lender is able to pursue your personal assets if the loan goes into default. You can’t use personal funds to pay for the loan: Your IRA must have enough liquidity to pay for the mortgage, not your personal checking or savings accounts. The loan must be structured as non-recourse debt: If the loan goes into default, the lender cannot come after your personal assets. Contact us today and let’s discuss which types of collateral you can use with your self-directed IRA non-recourse loan. Contact Us For More Information! Do not fill this form out if you're a solicitor. Name First Last Email Phone Questions or Comments* CAPTCHA Email: Roger St. Pierre NMLS #768919 Email: Jeff Fullerton NMLS #768918 Email: Nick Conway NMLS #1606997 Disclaimer: First Western Federal Savings Bank is not affiliated with any of the listed custodians, administrators, or facilitators nor do we receive compensation to provide you with this information. We are also not responsible for the website content at third-party sites. First Western Federal Savings Bank and its employees do not provide tax, legal, or investment advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal, or investment advice. You should consult your own tax, legal, investment advisors before engaging in any transaction. APPLY NOW Home About Us CRP Payments Contact Blog Privacy Policy 402 Main Street, Rapid City, SD 57701 Local Phone: (605) 341-1203 - Fax: (605) 394 - 0084 - NMLS #631666 © 2021 First Western Federal Savings Bank. All Rights Reserved.