4 Key Steps to obtaining a First IRA Mortgage for your retirement account:
1) Consult Tax Advice:
Talk with your CPA, RIA, CFA, and administrator to see if real estate is a suitable investment for you inside your IRA trust or retirement plan.
2) Roll Your Retirement Funds:
Before getting a First IRA Mortgage, you will need to have your retirement funds deposited with a self-directed IRA trustee or custodian that allows that allows direct investments in real estate.
There are two ways to do this:
- You can do it yourself and roll your retirement funds from your existing retirement plan (401k, IRA, SEP, etc) account to a "self-directed" trustee or custodian. (Note: incorrectly doing this could trigger some rather large penalties).
- You can retain the services of a CPA, RIA, CFA or administrator who can provide you with some very important "advice", and ensure that this "rollover" from your current trustee account, to a "self-directed" IRA trustee or custodian is done correctly.
Contact us to request a list of "self directed" Trustees, and Custodian Affiliate's that will safeguard your IRA funds, and also for a list of CPA's, RIA's, CFA's or Administrator Affiliates that may be able to assist you in your transaction.
3) Find An Investment Property
Once you identify an investment property, be sure to consult closely with CPA's, RIA's, CFA's or administrator's that may be able to assist you in your transaction. Little details matter at this step, and it is important that the real estate purchase agreement, deposit, and other details associated with this transaction be performed correctly. Having a CPA's, RIA's, CFA's or administrator with you could prove to be most beneficial. (Note: incorrectly doing this could trigger some rather large penalties).
4) Get a First IRA Mortgage™
When you have successfully rolled your funds to a self directed IRA trustee and custodian, and have signed a purchase agreement on your investment property, you should then contact an approved First IRA Mortgage™ affiliate, who will take an application from you, and prepare your application file to be submitted to First IRA Mortgage's wholesale division.
First IRA Mortgage is a wholesale finance company, and originates and lends money thru an Affiliate network of local mortgage brokers, CPAs, CFAs, administrators, banks, and other institutions that are authorized by our company to provide you with a First IRA Mortgage™. We will interact with these professionals, and get your First IRA Mortgage™ funding secured as fast as possible.
To qualify for the tax benefits associated with leveraging or financing assets within your IRA trust, the IRS has specific rules about what type of mortgages can be used. The First IRA Mortgage™ is specifically designed to abide by these rules.
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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