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Updated about 7 years ago on . Most recent reply
203k loan on Self Directed IRA
I am wanting to purchase a multifamily property in the near future. I am also interested In converting my Roth IRA to a self directed IRA. Is it possible to use a self directed IRA to purchase a property with a 203k loan?
I have already purchased my first primary residence using a first time FHA loan so that wouldn't b an option.
Anyone have any thoughts on this.
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Dmitriy Fomichenko
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Tax & Financial Services
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#1 New Member Introductions Contributor
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Dmitriy Fomichenko
#1 New Member Introductions Contributor
Tax & Financial Services
Pro Member
#1 New Member Introductions Contributor
- Solo 401k Expert
- Anaheim Hills, CA
Lance,
FHA 203K loans are not available for investors (owner-occupied only). You can not buy residence with an IRA, only investment property. Such purchase can be financed, but the loan must be non-recourse according to the IRS rules.
- Dmitriy Fomichenko
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