Reccomendations for Self Directed IRA Lender?

7 Replies

Howdy everyone, I am trying to use a portion of my IRA as a downpayment on a rental. Does anyone know of a lender that lends to self directed IRA's?

@Brandon Cravens

North American Savings Bank

www.myiralender.com

First Weestern Federal Savings

www.iralending.com

Be sure you work with your CPA to gain an understanding of Unrelated Debt Financed Income taxation.  The taxation in no way should kill a deal, but you want to be sure to know the requirements and figure the small tax impact into your deal.

Originally posted by @Brian Eastman :

@Brandon Cravens

North American Savings Bank

www.myiralender.com

First Weestern Federal Savings

www.iralending.com

Be sure you work with your CPA to gain an understanding of Unrelated Debt Financed Income taxation.  The taxation in no way should kill a deal, but you want to be sure to know the requirements and figure the small tax impact into your deal.

 Thank you @Brian Eastman! 


@Brandon Cravens I am not a fan of NASB or First Western due to their restrictive lending.  What types of deals are you trying to finance? 

For us, we need a lender that uses appraised value and with no restriction based on the "recent sales history" like NASB which means if I sell a turnkey property that was just purchased by one of our teams, NASB will likely only go to 40-50% (50% on the highside) of purchase price.  

I really like Lima One Capital as it is more flexible but does come with a higher rate.  Call and ask for Matt Lineberge and please tell him I sent you if you talk to him.

Loans up to 70% LTV, $45k min loan amount based upon appraisal

Overview-

The loans are like their Rental30 program which has more info attached with these adjustments::

-Non-recourse IRA loans will receive an upward rate adjustment of .5% to compensate for the non-recourse status.

-IRA borrowers must hold an additional 10% of appraised collateral value in IRA account at time of closing