Sheri McLaughlin – NMLS#448414 – (916) 235-3989
Let me introduce myself. My name is Sheri McLaughlin and I’ve been helping clients with Home Loans since 1999, however I have specialized in FHA 203K and Fannie Mae Homestyle loans since 2008. I am VERY passionate about what I do, however I am also very proud of my family where we all live in Folsom, CA (My husband and 3 children). I was raised in this area my whole life and I believe California in the most amazing place to live and raise a family (not to mention the BEST place to buy and renovate homes)
I will use my experience to help you understand what a renovation loan is and all the questions that surround these types of transactions.
As I said initially, I am very passionate about what I do and I truly love helping my clients through the home buying process – showing how they can build their future with Real Estate – It is typically the biggest investment most people will make and it is my goal to help them in any way I can!!
I remember how excited I was when I decided to buy my first house and the Mortgage Broker I was referred to was very matter of fact and I seemed to be nothing but another “loan” to him and he definitely did NOT make me feel “good” about what I was getting myself in to or even seem approachable, and at times even made me feel Stupid for asking a question. I was in my early 20’s and knew NOTHING about buying a home and it would have been AWESOME if he had held my hand and walked me through my financing options as though I were his Daughter or Sister! Instead – here is your loan then sign here, here and here. Thanks and good bye! Not even as much as a good luck or thank you.
It has been my goal over my mortgage career to NOT be what that Mortgage Broker was! In fact, I wanted to be completely opposite and offer the highest level of customer service possible always ensuring my clients are educated of ALL financing options. Whether they are ready to buy today or in 3 years from today, my goal is to always put my clients best interest first.
After nearly 10 years of doing traditional purchase mortgages helping thousands of families, I had my first taste of helping a buyer PURCHASE and RENOVATE a home using the FHA 203(k) renovation loan – all with 1 loan. My client was a 62 year old retiree that had NEVER owned a home and had saved little by little for 20 years for a down payment. The house needed a new roof, new windows, many cosmetic upgrades and a playroom for her grandchildren – she would have had to save another 20 years to afford that. With the Seller covering all closing costs, she only needed a $6,580 down payment for a purchase price of $172,000 PLUS $16,000 financed for renovations to make the home exactly what she wanted. Her down payment was only was only $560 more than if she did NOT do the renovations – Mind you she only had $7120 in the bank when we met although she was still able to purchase her 1st home AND do a $16,000 remodel!!!
The feeling that came out of closing that first renovation loan was MORE rewarding than anything I had experienced in my career to that point! That loan closed in 2008 and I have been addicted and committed to helping educate potential clients, Realtors, and Contractors to the existence of renovation loan programs ever since!