"Offering products like the First IRA Loan, has allowed us to separate ourselves from other mortgage companies. We can now reach out to attorneys, financial planners, developers, Realtors, and CPA’s with a product that proves to be a win-win for everyone."
Art Saitta, Senior Vice President
Gemstone Capital, LLCFirst IRA Mortgage, Inc.
First IRA is a wholesale, commercial lending company, exclusively focused on non-recourse IRA mortgages. We provide mortgage money to self-directed IRA trusts and retirement plans that need financing to buy investment real estate. We do not provide loans for residential or owner-occupied properties.
The loans that we invest in are non-recourse loans made to IRAs and 401ks, that are owned by individual investors. We do not speak with IRA account holders directly. That is the mortgage broker's responsibility.
Our loans are between First IRA and the self directed custodian ("trust company") that is holding the self directed IRA account holder's funds. The IRA account holder needs to sign and approve the transaction, (much the same way they approve or transact a stock or mutual fund transaction in their IRA) but the loan itself is between First IRA and the self-directed custodian.
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