Sellens Real Estate Lending – California Loan Origination

Welcome to Sellens Real Estate Lending for all types of California Mortgage Loan Origination.

At Sellens Real Estate Lending, we primarily originate real estate mortgages on 1-4 Single Family Residence properties, although we provide commercial real estate financing as well, anywhere in the United States.

Sellens Real Estate Lending - California Loan OriginationPrimary A-Paper loan types are, FHA, VA and Conventional Loans, like Fannie Mae and Freddie Mac. In addition, along with the A-Paper loan programs, we offer other specialty loans for Manufactured Homes and Mobile Homes, built before and after 1976.

You can purchase a home, refinance it, simply to lower your monthly cost for the home, or refinance the home and get some cash out of your equity, to pay existing credit line payments, or put in that great home improvement that you always wanted.

A Manufactured Home is “pulled” on to the land site, usually in two or three sections. It has a Title, similar to a vehicle, until it is permanently affixed to the land. This type of lending has some quirks that are well known at Sellens Real Estate Lending.

 In the past 30 years we have watched this type of financing bloom into what it is today.  Still, there are laws and lender overlays that must be known to efficiently close this type of loan.

Let FHA Loans Help You

The link above gives you some information on why FHA loans are so often used, and they are designed for Manufactured Home Lending as well as conventional “stick built” homes.

Mobile Homes are different than Manufactured Homes, although we offer loan programs for both.  Most often, a Mobile home is in a Mobile Home Park, and the land is not owned, but leased monthly.

The interest rates for these properties are a little higher, and the loan term is shorter, but we have the best programs for this type of property.

Please visit some of the other pages, especially under the Features section of this site, to get more specifics about all types of properties we lend on, like traditional “Stick-Built” properties, Manufactured Homes and Mobile Homes.

Please call at any time to discuss your particular lending needs.  Judy Sellens, Sellens Real Estate Lending, 951-265-2102

From Judy Sellens, owner broker

Author notes:

Accidentally, my first job was for a title company, located in Woodland, California. Right out of high school, I couldn’t wait to be working, and I would promise to go to collect later. I did.
So, from the beginning of my working years, I was involved in the real estate work world. First, typing preliminary title report and Title Policies, in this small town Title company. The work was not to challenging, but the real estate business was.
At that time, an Escrow Officer was looked up to, as a mini real estate attorney. My father in law, Doc Potts, as owner of Woodland Title, held that position, and the idea of someday being an Escrow Officer thrilled me to the core. I was hooked.
The attraction was, “How could one activity, such as purchasing a home, involving so few people, the Principals, Real Estate Agents, a Lender, a Pest Control Company, and Appraiser, weave such endless possibilities of challenges?
Well they just do! The scenarios are limitless, and being a Lending Mortgage Broker encompasses most of those challenges.
The worst thing, for all concerned, is one of the principals passing on, while involved in a real estate transaction. The next challenges, down the line, can be the buyer changing their credit record, to the negative, while the loan is in process.
We warn them from acquiring any new debit, while the loan is in process, but it’s difficult to name all the possible changes, so sometimes the buyer puts himself right out of the loan, as he increases his debt to income calculations.
Of course, there are endless other possibilities. For instance, the house qualification can be an optical on it’s own. I focus on Manufactured and Mobile Home lending, which have their own special rules for qualification.
If you know the rules up front, the buyer or agent can avoid attempting to purchase a home that will not qualify as security. Most often, the appraisal tells the tail, but the appraisal does not come in to play until a few weeks after the contract is signed.
This is just a little explanation of why I am in the Real Estate Loan Business. I like the challenges and helping identify what they will be, before the parties spend money in an effort to close a transaction.
Please call or write me, and I will discuss your particular loan details. Perhaps I can help. I have 30 plus years in the business and have solutions to lots of issues.
Thank you for reading this Article.
Judy Sellens, Real Estate Mortgage Broker
951-265-2102

 

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