Are you looking to purchase real estate with your self-directed retirement account (SDIRA)? We have you covered! Our Non-Recourse IRA loans are available NATIONWIDE!

What exactly is an IRA Real Estate Loan?   

This is a type of loan where the borrower is the retirement account rather than an individual. It’s secured by collateral, typically real estate and conforms to IRS regulation. SDIRA loans can provide you with the means to diversify your investments to help build your retirement wealth in other ways!


Benefits of an IRA Real Estate Loan:

  • Retirement Income Diversification
  • IRA Real Estate loans allow you to invest in tangible assets that produce steady income.
  • Real Estate tends to appreciate in value, ultimately giving you a little extra for retirement life
  • The probability of inflation when it comes to real estate is likely which means you could see a rise to the rental income you make on the property
  • When doing a Non-Recourse IRA loan, personal liability is removed

Required Documentation

The following documents are required to apply for IRA Non-Recourse Real Estate Loans.

For more information on what First National Bank of America can offer, please contact Scott Raymond at (833)557-2316 or [email protected]

  • Instruction form from Custodian / Administrator for purchase of real estate, if required
  • Copy of picture ID (front and back)
  • Most recent W-2 or 1st 2 pages of most recent tax return for IRA owner (signed)
  • Copy of most recent IRA/bank statements for the borrower
  • If property is currently leased, a copy of the lease agreement
  • Current rent roll if property is a multi-family
  • Rental income and expense pro-forma
  • Insurance agent name and phone number
  • Real estate agent name and phone number
  • Title company name and phone number
  • Copy of purchase agreement if a purchase
  • Name and contact information of lender if a refinance
  • Copy of property eligibility form
  • If the borrower is an LLC, LLC docs and tax id#
  • Loan application

Return All Documents to:

 [email protected]

Download the Required Documentation Checklist and FAQ.

Non-Recourse IRA Real Estate Loan FAQs

What is a Non-Recourse loan?

A non-recourse mortgage loan is a transaction where the Bank only has a security interest in the property being mortgaged not any other assets in the IRA or to the IRA owner. In the event of default, the Bank’s only remedy is to take the property back and try to resell it.

How can I apply for a Non-Recourse loan?

Complete a non-recourse loan application, property eligibility form, provide the necessary documentation and return to First National Bank of America by email or mail.
Contact data is as follows:

Address: First National Bank of America attn: Scott Raymond 4660 Kalamazoo Ave. SE Grand Rapids, MI  49508

Phone: (833)557-2316

Email: [email protected]

Who is eligible for a Non-Recourse loan?

Anyone who has the required 40% to 55% down payment and liquidity reserves available in their self-directed IRA. This is subject to underwriting approval, which will include satisfactory review of the subject appraisal and liquidity verification.

Can the subject properties be held in a LLC?

Yes. Please consult with your tax and/or legal advisor or self-directed retirement account administrator to set up the entity structure most applicable to your situation.

What is the processing time for a Non-Recourse loan?

Typical processing time is 30 to 45 days from application to close.

Is your program offered in all 50 states?

FNBA will finance residential use properties in all 50 states (subject to change from time to time)

Can FNBA set up my Self-directed IRA?

No. You will need to select your own Custodian.

Is there an income requirement for my rental property?

Yes. The property must generate net operating income that exceeds debt payments by 20% to 25% based on either existing leases or projections based upon local rental comparables.

Do you require an escrow account for property taxes?

Yes. It will be included in your monthly payment.

What type of rental properties are eligible for FNBA’s program?

Single family residential, duplexes, triplexes, 4plexes, and multi-family.

What terms are available?

We offer a 5 year and 10 year ARM and a 7 year balloon

What fees and costs will I pay for a Non-Recourse loan?

  • 1.50 to 2.50% origination fee
  • $250 processing fee
  • $500 attorney reviewed/prepared closing documents (due upon acceptance of the commitment)
  • Title insurance, pre-paid taxes & insurance, survey, appraisal, mortgage recording, and settlement fees which vary depending on your location and purchase specifics.

What information will I need to include along with my submission?

Please review the Required Documentation Checklist and FAQ.

Are there any liquidity requirements?

Yes, either 6 months of Principal Interest, Taxes and Insurance if the property is leased at close or 12 months if the property is not leased or will be used as a short term rental