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Updated over 5 years ago on . Most recent reply
#1 New Member Introductions Contributor
- Solo 401k Expert
- Anaheim Hills, CA
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FirstBank - Non-recourse lender for self-directed IRAs
#1 New Member Introductions Contributor
- Solo 401k Expert
- Anaheim Hills, CA
Was talking to a client tonight and learned about this bank that they offer non-recourse financing for self-directed IRA. I never heard about this bank but he (client) told me that this is 40 year old bank. I believe they have locations in Colorado, Arizona and California.
Just wondering if anyone here had any experience with them.
- Dmitriy Fomichenko
- (949) 228-9393
Most Popular Reply
@Gene Mitchell yes, and IRA can get a loan. Its just that the IRA must get the loan. You cannot give a personal guarantee. Hence the need for "non-recourse" loans.
I have accounts at 1st Bank. No loans, though I know people who do. Just regular loans, though, not non-recourse IRA loans. They're fine to work with, and definitely investor friendly.