First IRA Mortgage
Overview
Non-recourse loans collateralized by commercial and residential real estate held inside Roth and Traditional Self-directed IRA Trusts.
Property Uses
Investment purpose ONLY.
Recourse
Non-recourse outside the trust…no personal liability.
Eligible Property Types
Office, Multifamily, Retail, Warehouse, Single Family, Condos.
Loan Types
Fixed, Adjustable, Prime Floating, 25-30 year AM, 10-25 year Term.
Loan Purpose
Purchase, Rate and Term Refinance, Cash Out Refinance.
Lien Position
First Lien Position ONLY.
Max LTV
75% LTV
Min Loan
$100,000
Max Loan
$1,500,000
Geographic
Focus States initially, then all 50 US states.
Pre Payment Penalties
3 year Lock-out.
Escrow Holdbacks
Yes, 3-5 months PITI
Amortization
Fully Amortized and Interest only in special situations.
Borrower Structures
Self-directed IRA ONLY, and from pre-approved list of IRA Custodians to ensure that borrower Trust documentation is correct and IRS compliant.
Pricing
Pricing is based on full appraisal, DSCR, property type, and LTV
With respect to documents available from this server, neither First IRA Mortgage, Inc. nor any of their employees, makes any warranty, express or implied, including the warranties of merchantability and fitness for a particular purpose, or assumes any legal liability or responsibility for the accuracy, completeness, or usefulness of any information, product, or process disclosed, or represents that its use would not infringe privately owned rights. Always speak with a CPA, a Registered Investment Advisor, a Certified Financial Advisor, a Certified Financial Planner or Administrator to see if real estate is a suitable investment for you inside your IRA trust or retirement plan.
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