Sellens Real Estate Lending
Professional Real Estate Lending since 1991
Purchase and Refinancing Programs available
New and Used Homes, 12 years old or newer
See this link for Park Models to Purchase
Maximum loan term: New Homes 144 months; used home 120 months
Minimum loan amount $10,000
Rate and Term Refinance
Cash Out Refinance loans
Primary or Secondary Residence
Park Model Mobile on Leased Land only
The Mobile Home Park Community must be approved prior to funding your loan
Minimum credit score of 680 for purchase or rate and terms refinance. 700 minimum score required for cash out loans.
For a purchase, a minimum of 20% down
Valuation of home/appraisal required
Location of Park Model Home Criteria:
Community must be a dedicated park model community with a minimum of 50 spaces.
For mixed communities the community must have a dedicated park model section of 50 or more spaces.-
Community must have paved streets, landscaping, curbs, gutters, public utilities and public access-
Must have full time on site management-
Underlying ground lease must be for 15 years or longer-
Must be land lease community-
90% or higher occupancy is required-
Copy of standard park lease agreement must be made available for review at time of consideration.
Current standard lease cost must be disclosed (not a promotional rate). Must specify if lease is monthly, semi-annual or annual.
Please call for custom rates: Judy Sellens 909.709.1024