List of Non-Recourse Lenders Providing Financing for Self-Directed IRA and Solo 401k Retirement Plans:
North American Savings Bank provide loans in all 50 states. Founded in 1927, NASB now manages over one billion dollars in assets.
NASB offers a IRA lending program to help individual investors with their financing needs within IRA and 401k accounts. NASB lends up to 70% loan-to-cost on single family detached homes and 60% on all other residential properties (CA, AZ, FL, MI, OH, NV have a max 55% loan-to-cost). The loan amount is determined by the property condition, cash flow, recent property history, and retirement reserves in the accounts. Loan decision can be obtained typically within 24 hours. Processing time is about 45 days from application date. NASB offers a 5 year ARM and a 25 year fixed.
Minimum requirements for a non-recourse loan:
- Minimum down payment is 30% of the purchase price. Insufficient cash flow or the condition of the property may require a larger down payment.
- The property must generate sufficient Net Operating Income (rents minus operating expenses) to exceed the debt payments by 20–25%.
First Western Federal Savings Bank is a nationwide non-recourse lender that helps their clients use their self directed retirement accounts to purchase real estate investment with leverage. They finance residential, commercial, and multifamily properties in all 50 states for Buy and Hold investors.
First Western Federal Savings Bank offers 25-year, fully amortizing loans with no pre-payment penalty and no balloon payments. The maximum LTV is up to 60% for 1-4 unit residential properties and 50% for larger rental and commercial properties. The loan amount can range from $40,000 to $800,000. Typically, loan decisions are made within 2 days, and processing time is usually 30 to 35 days from the application date.
Minimum requirements for non-recourse loan:
- Minimum liquid reserves in the retirement account: 15% of the loan amount
- Net operating income exceeds debt payments by a minimum of 25%
For more information, please contact:Roger St. Pierre | Sr. VP | NMLS#: 768919 402 Main Street, Rapid City, SD 57701
605-341-1203 | email@example.com | www.myiralender.com
First National Bank of America offers loans in all 50 states for 1-4 units residential properties. Loans for larger multi-family are available locally. Their maximum loan term is 10 years, with a max amortization of 20 years. First National Bank of America also offers rehab loans, refinances, and will consider loans under $50,000. Typical processing time is 30 to 45 days from application to close.
Minimum requirements to qualify for a non-recourse loan at First National Bank:
- 40% to 50% down payment available in the self-directed IRA
- The property must generate net operating income that exceeds debt payments by 20% to 25%
FirstBank offers excellent banking services and products, with a great focus on the investor community. After 50 years in the business, FirstBank has grown its assets to more than fourteen billion dollars.
FirstBank offers non-recourse loans to the majority of Colorado, the Phoenix Metro Area in Arizona, all of Southern California and also Central California including the Inland Empire and High Desert areas. The maximum loan-to-value is 65%. Typical loan products are 15 year fixed rate mortgage and 7/1 or 5/1 ARM that can be amortized over 15 or 30 years with a matching maturity. Generally, the bank can complete a transaction in about 35 days for someone who has checkbook control and/or where the IRA owner is signing on behalf of their plan or LLC. There is no minimum or maximum loan amounts.
To qualify for a non-recourse loan, the requirements are:
- 75% of projected rents must cover principal, interest, taxes and insurance (PITI payments) for 1-4 family residences. No lease is required at closing
- An analysis of personal debt service, net worth, and credit is required
- The underlying participant(s) must meet minimum credit standard of a 680
For more information, please contact:California – Natalie Russo | 760-836-3529 | firstname.lastname@example.org Colorado – Ryan Blake | 303-920-5202 | email@example.com Arizona – Slava Ibragimov | 602-333-7740 | firstname.lastname@example.org www.efirstbank.com
Marshall Reddick Real Estate has been a prominent nationwide real estate investment firm since 1979. Every day we strive to be the bridge connecting each investor and financial independence by providing exceptional real estate education, mentorship, and a trusted purchasing system providing quality real estate investments.
- Max Loan-to-Value (LTV): 60%
- Loan amounts: $25,000 and Up
- Loan Terms: 15 Year Fixed, 30 Year Fixed or 30 Year Due in 5, 7 or 10
- 3 Year Interest Guaranty
- Residential Real Estate Only
- Credit Score/Work History are Irrelevant
Lend only on Marshall Reddick approved property in Marshall Reddick approved markets to Marshall Reddick borrowersPatrick Prunty | BRE 01949337 | NMLS 1205733 Marshall Reddick Real Estate
4299 MacArthur Blvd., Ste. 102, Newport Beach, CA 92660
Mark Robbins, CEO, of Lending Resources Group has been a pioneer in helping IRA investors obtain non-recourse loans for their real estate investments, since they became available to the public in 2004. Mark was the first Mortgage Banker in the U.S. at a major mortgage banking company to offer non-recourse loans to IRA investors nationwide.Mark formed Lending Resources Group, Inc. in 2008 and continues to facilitate non-recourse loans for IRA investors from coast to coast.
LRG has helped investors obtain these loans for all types of real estate from single family homes and condominiums to duplexes, 4-plexes, multi-family apartment buildings and commercial properties. LRG has also used its wide array of private sources to fund non-recourse loans that the banks refuse to do.
For more information please contact:
Pacific Crest Savings Bank was established in 1984 as Phoenix Mortgage and converted to a Washington State-charted, federally insured savings bank in 1998. PCSB combines the advantages of independent ownership with three decades of experience to offer the highest level of customer service.
They offer non-recourse loans to investment properties in Western Washington State that are held in a self-directed retirement plan such as Solo 401(k), IRA and more. The maximum loan-to-value is 50%. Positive cash flow are required. Pacific Crest offers loans to purchase, rate and term refinance, and cash out refinance.
For more information please contact:
Pacific Southwest Realty Services is a full service mortgage banking company providing our clients with a wide spectrum of financing instruments such as fixed or floating rate mortgages, equity, mezzanine debt, bridge and construction financing.
Life Company CRE Loans offer top-off loan during term, no reserves or impounds, flexible prepay terms, and lock rate immediately at loan application. All loan documents and terms are negotiable.
- $1 Million to $100 Million
- All commercial property types
- Single asset or portfolio
- Interest-only available
- Fixed terms up to 30 years
- Amortization up to 30 years
For more information please contact:
JMAC Funding is a group of private lenders located in San Diego, California who provides fast Private Hard Money Loans in California. We also buy real estate notes nationwide.
JMAC Funding offers non-recourse loans to self directed IRA LLCs that hold real estate. We are equity based lenders and we make purchase money and cash out refi loans on commercial, residential and land in California only. The loans can be structured as rehab loans or new construction, as well as for rentals. Loan terms are usually short term 5yr max, and project dependent. For rentals the project must be (or projected to be) cash flow positive with the loan in place.
- Max Loan to Value (LTV) of 65%
- Loan Amounts from $30K and up
- Commercial, Residential and Land
- Max term: 5 years
For more information, please contact:
Tower Lending offers fixed mortgage program for retirement accounts. Up to 100% financing of purchase price (75% max LTV based on appraised value). The LTV is calculated based on appraised value even if the purchase price is lower. For example, if your purchasing an investment property for $750,000 that has an appraised value of $1,000,000 then you could potentially buy it with $0 down payment (if market rents support the loan amount and DSCR). Personal Income / DTI is NOT calculated to qualify. Available in AL, CO, CT, DC, FL, GA, IL, IN, KS, KY, LA, MD, MA, MI, MO, NE, NJ, NC, OH, OK, PA, SC, TN, TX, VA, WA, WV, and WI.
*** This is NOT a rehab loan. Renovation funds are NOT available.***
*** MINIMUM LOAN AMOUNT IS $350,000***
*** 1-4 unit properties and residential condos ONLY***
*** Non-owner occupied Investment properties ONLY***
- Rates from 7.25% FIXED for 30 years (Based on credit and equity)
- Loan to values up to 75% and up to 100% of purchase price
- 4 points due at closing
- True 30 year fixed rate
- No Balloon
- Also available to blanket numerous residential properties (ie. Rental portfolio)
- 21 – 30 day closings
- Middle credit score must be 630+