Why Non-recourse Loans Are Important
Non-recourse loans are important for anyone looking to purchase real estate with their self-directed IRA. Regarding non-recourse lenders, First Western Federal Savings Bank is your number-one source for investment properties, including rentals. Contact us today for more information or to begin your application.
A non-recourse loan is a loan where the borrower is not personally liable for repaying the debt if they default on the loan. This type of loan can be used to purchase an investment property, such as rental property, without risking your personal assets. Non-recourse loans are important because they protect the borrower from having to guarantee the loan personally. For example, if the property is foreclosed on, the lender cannot come after the borrower for any deficiency. A non-recourse loan is a specific type of loan that allows you to use your IRA funds to purchase real estate investments. With this loan, the property purchased is owned by your IRA and must be repaid through the same account. In addition to assisting with financing, there are other advantages of taking out a non-recourse loan, including: Only The Lender Can Seize the Collateral: If you ever default on your loan, you will only lose your collateral. Many people are looking for ways to diversify their portfolios and invest in real estate in today’s market. Self-directed IRAs are a great way to do this, but it can be challenging to find financing. 
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That’s where First Western Federal Savings Bank comes in — we have more than 40 years of experience as one of the nation’s top non-recourse loan lenders and can help you apply for and receive a loan.