WELCOME
First Western Federal Savings Bank
We run our bank like a business, not a bank.
At First Western Federal Savings Bank, you’ll find a type of honesty in our non-recourse lending program that you won’t find anywhere else. We take extraordinary pride in providing simple, straightforward answers to your important questions about buying investment real estate and our financing programs. As a portfolio lender for over 30 years, every loan we make stays in-house which means the same person works your application from start to finish and throughout the loan’s repayment so you can always know the status of your deal.
We are excited to be able to offer IRA Non-Recourse Loans to help you achieve your retirement and financial goals. We can help you leverage your retirement account to buy real investment property inside your retirement account. Imagine, tax-deferred (or tax-free!) appreciation AND income from an asset you own, manage and control. Stocks, bonds, and mutual funds have margin… investment property has us!
Our knowledge will benefit you, responsiveness will shock you, and our guidance will impress you. From investment property loans to selling CRP payments and niches in between, specialized lending is our specialty! Give us a call or shoot us an email if you would like to discuss your “deal” with one of our lending experts.
First Western Federal Savings Bank Is Different Than Other Loan Providers
First Western Federal Savings Bank was founded in 1979 as a portfolio lender. Since the beginning, we have been committed to providing exceptional customer service, quick responses, and common sense answers. We have a unique style of banking that allows the customer immediate access to all decision-making and answers to their questions. Our main focus is customized lending on income-producing properties. All of our employees have decades of banking experience, as well as experience with IRA loans. Each loan officer has decision-making authority, giving the customer immediate feedback as to any potential loan request.
Small Town Roots, Nationwide Reach
We lend nationwide on Single Family Detached, five-plus units, commercial real estate, and agricultural properties. First Western Federal Savings Bank also specializes in CRP payments, as well as self-directed IRA loans by providing non-recourse loans. This includes IRA LLCs, 401K plans, and custodian IRA’s. Our non-recourse lenders service all of our loans in order to provide accurate and quick responses to any question about buying real estate with an IRA. Our quality customer service, along with our successful track record means that our customers keep coming back.
WE LEND ON...
- SINGLE FAMILY DWELLINGS
- MULTIFAMILY AND APARTMENTS
- COMMERCIAL PROPERTY
- AG LAND WITH LEASE INCOME
- VACATION RENTAL BY OWNER
Recent Posts
What SDIRA Lenders Actually Look For: Non-Recourse Underwriting Explained
When purchasing real estate with your SDIRA (self-directed IRA), securing non-recourse financing requires a very different approach than traditional lending. Because the loan is backed solely by the property—not your personal income or assets—SDIRA lenders evaluate risk through a unique set of criteria. At First Western Federal Savings Bank in Rapid City, South Dakota, we…
The Beginner’s Guide to Non-Recourse Mortgages for Real Estate Investors
As a real estate investor, you may already know that using leverage can accelerate your wealth creation. But if you want to purchase real estate through an SDIRA (self-directed IRA), standard mortgages are strictly prohibited by IRS rules. That is where a non-recourse mortgage comes into play. At First Western Federal Savings Bank in Rapid…
Too Little Cash in Your SDIRA? How Leverage Bridges the Gap
Having $50,000 to $150,000 in your SDIRA (self-directed IRA) often leads to the assumption that you are priced out of the real estate market. High property values make all-cash deals difficult for modest account balances. However, you do not need 100% cash to start using an IRA to invest in real estate. First Western Federal…