I am looking to buy a property using funds in Roth IRA in CA . I reached out to non recourse lender and they are saying they can fund only upto 60% of purchase price and they need 10% funds in reserves . Is there a way to purchase non recourse property by doing a down payment of 10% or 20% ? Should we go for Hard money loan to fund non recourse loan ? Is there a lender who can fund non recourse property upto 80%?
Most non-recourse lenders will require 30-50% down, depending on the location and property type.
You can go "hard money" route, perhaps you will find someone willing to lend you more but you will end up paying significantly more.
Here is a list of lenders specializing in loan to retirement accounts:
Hope this helps!
Just FYI most hml are equity driven and can accommodate a non recourse loan using an ira.