Direct In-House Decision-Making Power

When you work with us, your application doesn’t get lost in a corporate bureaucracy or sent to a third-party aggregator. As a portfolio lender, we maintain the authority to make all credit decisions internally. This means you receive faster answers, more transparent feedback, and a streamlined process tailored specifically to your unique investment goals and timeline.

Consistent Service Throughout the Loan Life

Many non-recourse loan lenders sell their debt to secondary markets immediately after closing, leaving you with a faceless servicer. We do things differently; we keep and service every loan we make. From the first phone call to the final payment, you deal with the same team that understands your property and your retirement account’s specific needs.

Greater Flexibility for Diverse Property Types

Standard loan providers often have rigid “cookie-cutter” requirements that exclude profitable but non-traditional assets. Because we manage our own portfolio, we have the flexibility to lend on various property types, including single-family rentals, multi-family units, and even agricultural land. We look at the strength of the asset and its potential to generate consistent retirement income.

Protection Through FDIC Insured Stability

Security is paramount when dealing with retirement funds. Choosing an FDIC-insured bank like ours ensures that you are partnering with a regulated financial institution held to the highest standards of safety and soundness. This institutional stability provides peace of mind, knowing that your non-recourse financing is backed by a reputable, long-standing bank with decades of experience.

The right lender makes all the difference in the success of your real estate IRA. At First Western Federal Savings Bank, we are committed to being the premier choice for investors seeking reliable, expert-led financing. Contact us today to discuss your goals; our portfolio-based approach ensures your interests are protected with personalized, professional service.

The post Understanding the Benefits of Working with a Portfolio Lender for Non-Recourse Loans appeared first on First Western Federal Savings Bank.

Limited Personal Liability

One of the most significant benefits of a non-recourse loan is the built-in protection it offers. With this type of loan, the lender’s recourse is limited solely to the investment property itself. This means that in the event of a default, your other personal assets and remaining retirement funds are completely shielded. It allows you to confidently leverage your retirement account investment for a real estate purchase without risking your entire financial future.

Use Your Retirement Funds to Your Advantage

A non-recourse loan allows you to access financing for a real estate acquisition without dipping into your personal savings or other investments. This financial leverage is key to expanding your portfolio and acquiring higher-value investment property that you might not otherwise be able to afford. By using a non-recourse loan, you keep more capital in your retirement account, ready for future opportunities or unexpected expenses.

Simple Process, Common-Sense Lending

We pride ourselves on offering a straightforward and transparent process for our non-recourse loan program. Our team provides clear answers to your questions, ensuring you understand every step. Unlike other lenders, every loan we originate stays with us to provide personalized service throughout the life of your non-recourse loan.

Build a More Resilient Investment Portfolio

For South Dakota retirees, building a resilient and diverse portfolio is crucial. Acquiring real estate through a non-recourse loan diversifies your holdings beyond the stock market, adding a tangible asset with consistent cash flow potential. This diversification is vital for long-term financial security.

As South Dakota’s premier non-recourse loan provider, we believe a strong retirement starts with smart, protected investments. If you are a retiree looking to secure a new investment property, contact First Western Federal Savings Bank in Rapid City to discuss how our non-recourse loans can work for you.

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Remember that Real Estate Investing Is a Business

Just like how you would start any new business venture, you need to create a good plan that details the start of your investment ventures, your goals, both short- and long-term, and any opportunities you are interested in. By treating it like a business and creating a plan, you will be more prepared for any setbacks that arise but more importantly, you will have a clear vision of what you want your real estate investment journey to look like. Whatever you do, don’t go into it blind, and help your future self as much as possible. 

Remain Educated On the Areas You’re Investing In

It is imperative that you stay up-to-date with any of the laws, regulations, and trends in the area that you are purchasing investment real-estate in. Falling behind in understanding the laws and trends could mean legal ramifications but also the potential of losing momentum in your investments. Become well-aware of the trends in rent, income, interest rates, and even unemployment or crime rates in your area. This will allow you to plan for the present as well as the future and adjust your plan as you see fit.  

Develop A Niche

Developing a niche, or acquiring knowledge and expertise about a specific area, will help you gain a depth of knowledge that allows you to become successful in that area. By building a level of understanding for a specific area, you are helping yourself becoming successful in the long-run, but you are also giving you the chance to apply the same in-depth approach to other additional areas once you have mastered one, thus diversifying your portfolio. 

Diversify Your Portfolio

To reiterate what the above has communicated, understanding the area that you are investing in is more than necessary to become successful in this market. But do not limit yourself to a small geographic area, as you are losing out on the potential of making considerable gains in other areas. Considering other states and cities gives you a larger pool for you to invest in, diversifying your portfolio and protecting you against the volatility of local markets. 

Find A Good Bank

At First Western Federal Savings Bank, we are more than a bank, we are a business. We understand that purchasing investment real estate is difficult, especially for those who are new to it, which is why we do whatever we can to help you through every step of the way. We provide simple, straightforward answers to your questions about investment real estate. As a portfolio lender for over 30 years, every loan we make stays in-house, meaning the same person works on your application from start to finish and throughout the loan’s repayment so you can always know the status of your deal. You are extremely important to us — contact us today for more information or to begin using your self-directed IRA and non-recourse loan to purchase investment real estate.

The post What Makes a Good Real Estate Investor appeared first on First Western Federal Savings Bank.

We’ve started to touch on this in prior blogs, but this presents an incredibly unique opportunity for you, as someone who invests in rental properties. Considering nearly half of all millennials are currently renting, the window is significantly open for you to provide a need that is in high demand. Take a look at some of the reasons why people aren’t as keen to buy a house (and how a non-recourse loan could help you get in on the market), and apply with our non-recourse lenders at First Western Federal Savings Bank.

Millennials and Home Buying

Millennials are the generation most frequently talked about in the real estate and home buying world, and so much of this is because they are the next generation of young adulthood. When comparing the millennial generation with the Gen Xers and the baby boomers, they’re experiencing some financial strife and grief that hasn’t happened for previous age groups. Additionally, they’re the generational group with some of the lowest home buying rates, compared to similar data of people at that age, at different points in time.

So, why exactly aren’t millennials buying homes? Our non-recourse loan lenders take a further look:

Wages That Can’t Keep Up

Finding lower priced homes used to be relatively easy, depending on location. Nowadays, and as we’ve talked about in previous posts, mortgage rates are higher, and the same goes for house prices. This would be all fine and well if wages were rising just as consistently, but this hasn’t been the case. Buying a house is one of the greatest expenses in life, and fewer people are able to afford this type of investment.

More Debt, Less Savings

As CNBC reported, 80 percent of millennials are interested in buying a house, but most of this generation have less than $1,000 saved. This is not due to laziness, although the occasional baby boomer have been noted to think otherwise — this again points to wages that cannot meet the demands of the housing market, and area where prices have only continued to increase. Additionally, student loan debt racks nearly three-fourths of college graduates, with the average amount of college graduates from 2017 being $39,400.

In today’s society, people have to go to college if they want any chance of getting most jobs, and this degree sets them back financially for years — if not decades. Not to mention, paying off student loan debt, while having wages that are far inferior to what they should be, makes it nearly impossible to save for a down payment — let alone take on the expenses that come with home ownership.

Preferring Experiences

It could be due to the near-hopeless nature that most millennials feel in regards to buying a house, it could be simply having a zest for exploration than previous generations have not collectively felt, but in this chicken-vs.-egg debate, the fact remains: most millennials prefer experiences to buying a home. Forbes reported the millennials as “the most important consumer generation for the travel industry.” There seems to be an overall trend in millennials caring less about buying a home and settling in one place, and more about exploring, moving around, trying different career paths, and seeing whatever they can.

Denied Mortgages

It should be noted that people who are white have an easier time getting a mortgage than people of color. In 2015, the Pew Research Center reported that denial rates were significantly higher for African American and Hispanic households — 27.4 percent and 19.2 percent, respectively, compared to 10 percent for white households. This is unfortunately not anything new, as people of color have long been denied housing or mortgages due to racial biases. With as diverse a nation as the United States is, it’s not only important and equitable, but necessary for all potential homebuyers to be considered fairly — when applying for mortgages, and in every other aspect of life as well.

Fear of Failure

After the housing crisis of 2008, many are still reeling, and many are still fearful of experiencing similar problems. While millennials were not all buying homes back then, they’ve heard enough from family members and the news to know that there are risks associated with buying a house. Pair this with the fact that nearly 70 percent of millennials who have bought a home regret doing so, and it makes sense that millennials know very few people in their age range who are homeowners — and satisfied at that.

Why You Should Invest in Rental Properties

Millennials — and most people in the United States, for that matter, are choosing to rent for all of these reasons, and so many more. Regardless of their reasons, it practically goes without saying that now is an exceptional time for you to get involved with rental properties. This is an area that demands attention, and the needs of the housing market show no signs of slowing. People aren’t going to stop renting any time soon, and now’s your chance to invest in a solid and profitable opportunity.

Non-recourse loans are specifically designed for the purpose of obtaining a property to turn into a rental, such as for a vacation rental or for long-term tenants. With the non-recourse lenders at First Western Federal Savings Bank, you’ll be set to invest in properties that provide equity, as well as added revenue from rental income. With fewer people buying homes than in the most recent five decades, there has never been a better time to get invested in rental properties. Review our necessary and required documentation today before applying, view our YouTube channel, and get started on your non-recourse loan application today! We look forward to hearing from you.

The post Why Are Fewer People Buying Homes? appeared first on First Western Federal Savings Bank.

In addition to all of these components of buying a house or investment property, it’s important to understand the current trends that are happening, and how they might affect your decisions. Our non-recourse lenders at First Western Federal Savings Bank are here to offer you the latest in mortgage and housing trends — take a look at the current economic status and data as a whole, and apply for a non-recourse loan with First Western Federal Savings Bank today!

More Houses Later in the Year

In previous years, elder populations had more of tendency to downsize as they got older. Taking care of a house is already a huge commitment and requires lots of time, energy, and ability, and downsizing seemed to be the best possible way to meet everyone’s needs. Smaller homes were replacing larger ones, ranches were now preferable to multi-level, and much of this stemmed from concerns for safety (falls and subsequent injuries are much more common in older people).

With newer technology, such as a stairlift, it’s become more possible for people to stay in their homes as they get older. Plus, people are healthier for longer than was the case several decades ago. While this is excellent news for the current baby boomer population, this has presented some challenges to the housing market. NerdWallet reports that “home buyers are struggling to find houses for sale. The shortages are especially acute for the kinds of homes that first-time buyers tend to get.”

However, the article states that this looks to change by the end of the year. Economists predict that there might actually be a growth in inventory, making it not only easier, but possible, to invest in property.

What This Means for Your Non-Recourse Loan

As someone who invests in properties, there’s a good chance that more houses will become available later in the year. It’d be advantageous to continue watching these trends, thinking about your next investment property purchase.

More People Are Renting

Due to many circumstances that we will cover in a later blog, more people are renting now than they have in the past 50 years. Fewer people are buying homes, and, as stated above, almost half of millennials are choosing to rent.

What This Means for Your Non-Recourse Loan

To put it bluntly, it’s practically a gold mine. Using a non-recourse loan is a great way to purchase a property that can be turned into a rental, either for long-term tenant or vacation purposes. By investing in rental properties now, you’re meeting the needs and trends of the current real estate market. With more people looking to rent, you could be on the cutting edge of purchasing a rental property, providing a need and generating additional revenue (as well as equity!) all at once.

In a future blog, we’ll talk about some of the reasons why fewer people are renting. In the meantime, take stock of this information, and use it to make some informed decisions. Investing in rental properties can seem like an overwhelming and nearly impossible task for some, but it’s a sound financial decision that can make such a difference for your portfolio as a whole. Get started with your non-recourse loan application today with First Western Federal Savings Bank — we look forward to hearing from you!

The post Current Mortgage Trends appeared first on First Western Federal Savings Bank.

Much of this same documentation is applicable not only for a non-recourse loan, but also for refinancing and home equity loans as well. Take a look at some of the necessary documentation that’s required as part of your application, and contact our non-recourse lenders with any further questions you may have!

1. Purchase Agreement

You must include a purchase agreement with the correct vesting, or, ownership of your 401(k). Additionally, this purchase agreement must show your IRA custodian, LLC name, 401(k) name as the purchaser.

2. Current IRA Statements

Your current IRA statements should show the correct names, dates, and account numbers. If you’re part of an LLC structure, you’ll need to include copies of IRA LLC bank statements as well.

3. Letter From IRA Account Holder

You’ll need to write a letter explaining why you are applying for the loan, and providing adequate details of the overall loan request. Make sure you cover the following things in your letter:

• The type of property
• The location of the property (remember, all properties need to be in the United States)
• How you plan on using the property
  • Additionally, include what you’ll be renting it out for, and who will be renting it
• How much you’re requesting for the loan
• How your IRA will be involved
• Future investment goals for this specific property
• Your personal experience in investing in properties, as well as managing investment properties

4. Photo ID

Attach a picture or copy of a form of photo identification, such as a driver’s license or a passport.

5. Existing Lease Agreement (if possible)

If the property is currently leased (and you’re looking to take out a home equity loan or refinance your existing non-recourse loan), you need to include a copy of the existing lease agreement. If it’s not currently leased and you’re looking to acquire the property, you do not need to include this information.

6. 2-Year Financial Statements (if possible)

In the event that you’ve already been leasing out this property, include the most-recent two years of income and expense statements on this investment property. If the property has never been a rental, include pro-forma income statements and an expense summary.

7. Hazard Insurance

Include hazard insurance contact information in your necessary documentation. Important: the proposed property must be titled in the name of the IRA — if the insurance is in your personal name, it will not be accepted. Be sure to include (on our application) the name and phone number of your insurance agent’s name.

These are some of the basic things that must be included when you’re applying for a non-recourse loan. These forms of documentation are good to have ready and on hand if you’re applying for a home equity loan, or are looking into refinancing. By visiting our online application, you can get a better sense of some of the other documents we require for financial opportunities that are outside the realm of non-recourse loans. Get started with our non-recourse lenders today — and if you have any questions about your application, be sure to get in touch with our team!

The post Necessary Documentation for a Non-Recourse Loan appeared first on First Western Federal Savings Bank.

But before you even start preparing a vacation rental property, you need to get one — and that’s where First Western Federal Savings Bank comes in. You can use your self-directed IRA as an investment tool, in tandem with a non-recourse loan, which could help you acquire a property to turn into a rental. Non-recourse loans can be used for financing a house or condominium that can be used for vacation rental purposes (as well as for long-term tenants). There’s never been a better time to apply for a mortgage with our non-recourse lenders. Get started with First Western Federal Savings Bank, and in the meantime, see how you can continue to set up your vacation rental for success!

Procedures and Organization

When visitors come to your rental property, they’re looking for a vacation — but even more than that, they’re looking for an escape and a great experience. When things interrupt travel plans, this can negatively impact a vacationer’s experience as a whole. The little details and organizational things you can have in place can make more of a difference than you realize — but it absolutely contributes to how a person feels about their trip (and where they stayed).

In fact, rental websites like Airbnb have rankings and reviews for things like cleanliness and checking in, which means that people coming to your rental property will eventually be rating you on these factors. If your rental property is lacking in these areas, lower reviews might dissuade future visitors from choosing your vacation home.

Procedures and organizational tactics don’t need to be over the top, but having them in place makes a significant difference. This not only helps your guests make sense of the place they’re calling their vacation home, but it also makes preparing your place for the next set of guests easier for you.

Establish a check-in and check-out method.

After a long day of travel, the last thing that most people want to do is experience a hassle with getting to their rooms. Travelers just want to set their suitcases down for a moment, take a deep breath, and take everything in — not have to spend 30 minutes at a check-in counter waiting for their vacation abode to become available.

Have a method for checking in that’s simple and safe, and make this known to your guests. Maybe you have a lockbox that stores your key with a passcode, maybe you have a key fob that you bring to them upon their arrival, or maybe you install a keypad to your front door and give them the code, but whatever you decide, make it as easy and quick as possible. One downside to consider if you’re dropping off the keys when your visitors arrive is that this is dependent on everything going according to plan. A sudden flat tire or other emergency can impede meeting your guests, and no one wants to wait around aimlessly when they could instead be starting their vacation.

In addition to having a check-in method, make sure your guests are aware of a check-out method as well. They should know exactly what to do when it comes time to leave, so that it’s again much easier for you to prepare the place for your next guests.

Have a list of important information.

In the 21st century, one of the first things that many guests are going to look for is how to connect to the WiFi (also, make sure your place has WiFi!). Additionally, there are likely a list of important numbers that people staying in your vacation home should know, such as your phone number, or perhaps a neighbor’s number if you for some reason get tied up with another commitment. Have a pool or a hot tub? Include information on how to work these amenities. It can even be handy to write down some notes on what to do in case of emergency.

Not only do you want to provide this information, you also want to ensure all the necessary things to know are compiled in a neat, tidy, and easy to access way. Post it on the refrigerator, leave it on the coffee table, or leave it in another spot that’s easy to find.

Make cleaning expectations known.

There are a wide variety of attitudes that people might have towards cleaning at a vacation home. Some guests will stay with a Boy Scout mentality, leaving things cleaner than you found it, and others will think of you as their housekeeper. It’s up to you to decide what your expectations are, but whatever you decide, make sure your guests are aware of this.

Oftentimes, vacation rental property owners utilize cleaning services, and include part of this fee in their guests’ bill. This might be the most convenient, because it’s less of a hassle on your part, and makes it easy for your place to be ready for the next set of visitors.

That’s it for our third tip in our series on preparing your vacation rental property! Visit our site in the future to keep in touch with some other great tips on making sure your vacation rental is set for success. When you use a non-recourse loan to get a property that can be turned into a rental, you open your financial portfolio to so much more potential. But that’s only the first step — keeping your vacation rental a place that visitors want to come to again and again is essential to making this property a true asset. Learn more about non-recourse loans, and contact our team today to get started!

The post Preparing Your Vacation Rental Tip #3: Set Up Procedures appeared first on First Western Federal Savings Bank.

First Western Federal Savings Bank knows all about the importance of getting the best in non-recourse loans, and how this can help you acquire a property to turn into a rental. Working with our non-recourse loan lenders can set you up to purchase a higher value property that meets various requirements, such as being at least $70,000 in value. Fill out our contact form today to get started with a non-recourse loan application, and in the meantime, check out some of the benefits of investing in a higher value property!

Advantages to Choosing a Higher Value Property

Sure, you might not feel like you’re on an episode of “Fixer Upper,” but you will still feel just as accomplished and full of pride when you invest in a higher value property. There are practically countless reasons why a higher value property is preferable, but we’ll just start listing a few.

Solid Long-Term Investment

A property that’s at least $70,000 in value is, like anything else, going to need some work performed along the way. It will likely be substantially less than if you buy a property that needs a complete and total overhaul.

With fixer uppers, there’s often things that go missed — especially if you try to tackle everything on your own, without consulting a highly qualified inspector. While not always the case, it’s far from uncommon for something to be brushed aside, only to come up as an even heftier expense and problem down the road.

In the case of a higher value property, you get to focus on this as an investment, and worry less about the cracks in the foundation that were overlooked in that initial inspection of your fixer upper. This is a property that is much more sound from the get-go, and likely one that will last longer down the road.

Focusing in the Right Direction

When you invest in a higher value property, you’re truly investing — and that’s the kind of attitude you want to have when buying real estate. Non-recourse loans are specifically designed to help you invest in a rental property, which could potentially offer you a greater ROI. Instead of focusing your financial lenses on improving a property, you can focus on this property as a financial asset and investment.

This shift is crucial to helping you get money back on your rental property faster. You want a property to rent out, whether for vacation or housing purposes, but with a fixer upper, you’ll be losing tons of money at the start. The turnaround time to start generating a profit will be lengthy — if it even happens at all. A higher value property allows you to focus on your property as an investment, and be able to get it on the rental market sooner.

Less Hassle

You’re trying to get people to rent your house or condominium, and frankly, this is responsibility enough. If you purchase a lower value property, there’s going to be a lot of time and work spent trying to get everything in order. You won’t be able to rent it out until everything is finished, and worrying about the carpet and the drywall and the electricity are just some examples of things that can get in your way. Purchase a house that’s virtually ready to go, and you’ll be in a much better place to start renting out sooner — and start making money sooner, too!

Ultimately, when you choose a rental property that’s of higher value, it can, understandably, be a bit intimidating at first. However, this is what the team at First Western Federal Savings Bank is for — to help you get set up with a non-recourse loan to get ahold of this property. You’re not going to have to pay nearly as much to get your property ready, and you definitely won’t have to pay all at once, either. Because with non-recourse loans, this is a mortgage payment that you’ll settle and pay off over time.

Our non-recourse loan lenders are ready to help you get the mortgage you need to acquire a property for housing or vacation rental purposes. When you invest in real estate, you can only imagine the possibilities that await with this kind of financial opportunity! Get started with First Western Federal Savings Bank today — we’re looking forward to working with you.

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A good credit score isn’t something you can simply will into existence, but it is something that is nearly a necessity to have. If you find yourself suddenly in need of a new car, you’ll be wanting a good credit score. When you’re looking for a place to live, you’ll be wanting a good credit score. Even wanting electricity and water can boil down to needing a good credit score.

Because having (and maintaining) a good credit score is so important, it’s vital to understand how you can make this happen. Whether you’re not wanting to check your FICO® score out of fear for seeing some numbers starting with a 3 or 4, or feeling ready to push your way into the next range of your credit score assessment, First Western Federal Savings Bank can provide you some tips and tools to make this happen.

As the premier choice for getting a non-recourse loan to be used towards purchasing a rental property, First Western Federal Savings Bank has been helping people build their financial portfolio for over three decades. There’s no better time to get your credit score in check, and to see the possibilities that await through getting a non-recourse loan! Find out more on managing a good credit score, and contact First Western Federal Savings Bank to create a better financial future.

Know your baseline.

We know it can be scary and difficult, but take this as your sign: it’s time to check your credit score. People who don’t feel confident in their credit are likely not too keen on learning their score, which is understandable. But in order to grow and improve, you have to have a starting point, and you can’t let denial and fear hold you back.

If you have a credit card currently, there’s a good chance you can use that site to get a reading. Don’t have a credit card or an online bank system that can provide this information? No problem. There are plenty of sites, such as Credit Karma, that can provide you with a free credit report. Utilize various resources to find your current credit score, and refer back to our chart to find out where you stack up.

If you don’t have a credit score: In some instances, people might never have had to take out a loan or have never used a credit card. If this is the case, one of the best ways you can begin to build your credit is by simply applying for a credit card. Once accepted, use your credit card for various payments, such as buying gas or groceries. It will definitely take time to build up your score, but through consistent and smaller payments, this lays a great foundation for your potential FICO score. But as we’ve talked about, it is imperative that you pay off your credit card bill in a timely fashion in order to develop a credit card score that’s worth its salt.

Aim for (slightly) higher.

Of course we all want to have the best credit score possible, but that might take several leaps to get there, and you could easily trip along the way. In order to make consistent and sustainable growth, take your baseline, and aim for the next level up. It can seem impossibly slow and gradual, and might seem tedious to simply set your mind on advancing to “Fair” if you’re currently at “Very Poor.” Yet as we’ve talked about, building a credit score requires time—set your sights a little closer for the time being. Once you hit your initial goal, you can always step it up a notch (as you should!)

If you already have an exceptional score: Wow, way to go! You’re in the 20 percent of people in the United States who have the highest ranking score. You should continue doing what you’re doing, and if anything, use your existing score to look into some further financial ventures. Your fiscal responsibility speaks volumes to your financial capabilities, and you could very well grow your capital to even greater heights. Talk with our team at First Western Federal Savings Bank about getting a non-recourse loan; we would love to hear from you.

Practice consistency.

The road to a good credit score is a long one, and one that we’re constantly on. Just like we take our Toyotas in for routine oil changes, add fuel to our Fords, and get checkups on our Chevys when the time calls for it, we have to do the same for our credit score. The cheesy car metaphors might seem like overkill, but truly, your credit score is similar to your vehicle: when it’s good, it can take you places. When it’s in bad shape, you’ll find yourself stuck.

By practicing consistency, you’ll be taking the necessary steps to improve your credit score. Here are some ways to make that happen:

• Pay off things on time:  Even before you have a credit card bill or a loan payment due, make sure you’re ready to pay it (and honestly, we recommend paying it before the due date just in case). Set an alarm on your phone, or set up automatic withdrawal from your bank account that pays things before you even have to think about remembering. Making timely payments is one of the most important things you can do in improving a credit score.

• Use credit, but don’t depend on it: If the amount of money you owe is currently abysmal, try to focus more on paying it off than using credit. As another financial faux pas, if you max out one credit card, do not take out another card. This is adding onto your debt, which will make paying things off all the more difficult.
  If your credit balance is looking more manageable, you can continue using your credit card to make payments. Again, make sure you’re able to make timely payments, and pay off more than you’re spending to see a difference in your balance as a whole.

When you maintain and improve your credit score, it’s more than just having opportunities that await—it’s being able to afford some of the necessities in life. But once those basic needs—such as shelter and a means of transportation—are met, you can begin thinking about growing your financial portfolio. With a good credit score and a self-directed IRA, you could be eligible for getting a non-recourse loan through First Western Federal Savings Bank. Just as we have had the privilege of helping people reach new financial heights for over 30 years, we would be honored to work with you. Learn more about acquiring a rental property with a non-recourse loan, and contact First Western Federal Savings Bank to see what this type of IRA loan could do for you!

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