Call: 800-908-8845 CONTACT US APPLY NOW HOME IRA NON-RECOURSE LOANS CRP PAYMENTS RESOURCES ABOUT CONTACT What to Look For in a Non-Recourse Loan Lender Get Started Here! Speak with an Expert Today FIRST WESTERN FEDERAL SAVINGS BANK Have you been considering a non-recourse loan to help with the purchasing of real estate in South Dakota? When you work with First Western Federal Savings Bank, you’re working with one of the nation’s top non-recourse loan lenders. Here are just four reasons that you should trust a lender like First Western Federal for your non-recourse loan! Borrow the Amount That You Need For many borrowers, there is no set minimum or maximum loan amount, since the loan is in the name of your IRA, and the amount that you wish to borrow is dependent on the value of your investment. If you are eligible for a non-recourse loan, you may need to have a portion of the purchase price of the property vested into a self-directed IRA. There are several variables that can affect the actual down payment for your non-recourse IRA loan, including the property you’re wanting to purchase, the property’s condition, and the amount of cash flow you expect the property to generate. Place Limits on Your Liability Perhaps the most appealing feature of a non-recourse IRA loan from First Western Federal Savings Bank is that your remaining assets have zero risk. This is because non-recourse loans are made directly to your IRA and not to you. Non-recourse IRA loans enable you to invest in real estate without putting your finances in peril. In the event that you default on your loan, you’re not responsible for paying the loan, and your remaining IRA funds are protected, as well as all of your other assets. If your lender isn’t making this clear to you, then you need to do business with us! Find Repayment Terms That Work For You When you trust First Western Federal Savings Bank, we make every effort to offer you the lending terms that best fit your financial standing. This is your non-recourse loan, and it should make sense with your financial situation. Unlike many other banks or institutions, we won’t force you to agree to a standard one-size-fits-all repayment plan. Contact us today and we’ll get to work on determining the right repayment terms for your non-recourse loan! Look For Competitive Interest Rates First Western Federal Savings Bank is able to offer very competitive interest rates for non-recourse IRA loans. In case you were wondering, your credit score has very little impact on the interest rate for a non-recourse IRA loan. This is because, as we mentioned earlier, these loans are not made in your name, but rather the name of your self-directed IRA. So even if your credit score isn’t perfect, you can still qualify for a very appealing interest rate! With over 40 years of experience in loan lending, First Western Federal Savings Bank is here for you! To learn more about how we can serve you with non-recourse loans, contact us today! Leave a Comment Comment Name (required) Email (will not be published) (required) Website Save my name, email, and website in this browser for the next time I comment. Post navigation ← 4 Things That Set First Western Federal Savings Bank Apart 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.