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Real Estate Financing Options With a Non-Recourse Loan

Self-directed IRA investors who choose to invest in real estate can leverage their purchase with a non-recourse loan. A non-recourse loan is a secured loan that is backed by a pledge of collateral, typically the property that it is being used to purchase. Non-recourse loans may be a suitable option for investors who wish to purchase real estate, but do not currently have sufficient funds in their IRA or for investors who do not wish to have the entirety of their IRA invested in a single property. Keep in mind, the IRA must make all loan payments on a non-recourse loan (the IRA owner may not make them personally).

Not many institutions offer non-recourse lending, but below is a list of non-recourse lenders that may be able to assist you in making your real estate purchase possible*.

Banks Offering Non-Recourse Loans Contact
North American Savings Bank (NASB)

IRA Lending Department
Toll-free: (866) 735-6272

First Western Savings Bank

Jeff Fullerton
Toll-free: (800) 908-8845


Roger St. Pierre
Toll-free: (800) 908-8845

• PENSCO Trust Company performs the duties of an independent retirement custodian, and, as such, does not provide investment advice, sell investments or offer any tax or legal advice. PENSCO is not affiliated with any investment, investment sponsor or investment advisor. Clients or potential clients are advised to perform their own due diligence in choosing an attorney, tax advisor, or any investment opportunity (including a non-recourse lender). Alternative investments are not FDIC insured and are subject to risk, including loss of principal. This information is for general purposes only and is not intended as an individual recommendation or to be a substitute for specific individualized tax, legal or investment planning advice.