Sellens Real Estate Lending
Professional Real Estate Lending since 1991
Overview of Best Mobile Home Loan Programs
Below is a summary of our current mobile home loan programs, for homes in mobile home parks, and on land that you own.
At this time, all homes must be owner occupied, no rental properties.
Small Balance Mobile and Manufactured Home Programs. (Click above to see loan guidelines)
Mobile Homes in a Park:
Purchase or Rate and Terms Programs:
Pre-HUD Homes, built prior to June 1976:
Purchase:
Down payment 25%, plus closing costs
Loan term, 10 to 15 years.
Minimum Credit Scores, 680
Cash out - refinancing loan programs for Pre-HUD homes: None
available.
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Purchase or Rate and Terms Programs:
Mobile homes older than 15 years: 10% down payment required.
Mobile homes newer than 15 years: 5% down payment required.
5% down payment, plus closing costs (best program)
Minimum Credit Score 680
Loan Term, 10-20 years
***
Cash Out Programs:
Mobile Homes in a park:
Homes are older than 15 years, 65% of appraised or book value,
whichever is the lesser.
Homes are newer than 15 years, 80% of appraised or book value,
whichever is the lesser.
Date Prepared: August 21, 2010
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Please visit the following pages for details about these loan programs.
Key Mobile Home Program Information
Mobile Home Hybrid locations, Condo Communities, and Cooperatives
Mobile Home High Loan to Value Program
No Appraisal Fee Mobile Home Program
Please contact me for updates in programs. judy@sellenslending.com
Yucaipa California has 41 mobile home parks
Yucaipa's neighbor, Calimesa, Ca, has 8 mobile home parks
