Mortgage Loan Specialist
Annette has called Northern California home for 21 years. She grew up in the Midwest and strongly believes that you should treat others the way you would want to be treated. With more than 22 years of banking experience, Annette has experience with a variety of products and services. She focuses on consistent communication throughout the mortgage lending process and understands it is a big decision to choose to refinance your home with a reverse mortgage. She is committed to making sure her customers receive the highest level of service available. If you have questions about a reverse mortgage or would like to get one, contact Annette and let her help you achieve your goal.
NMLS – 844864
Frequently Asked Questions
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Frequently Asked Questions
- What type of mortgage loans do you provide? - Annette Mercer What type of mortgage loans do you provide? We offer residential mortgage loans, land and construction loans, government-backed loans, custom portfolio loans for unique situations. We also make available a variety of programs for low and moderate income borrowers.
- Do you offer any mortgage assistance programs for homebuyers? - Annette Mercer Do you offer any mortgage assistance programs for homebuyers? Yes! We offer down payment assistance programs and affordable mortgage programs for homebuyers who qualify, including the CalHFA Down Payment Assistance Program, the Workforce Initiative Subsidy for Homeownership (WISH) First-Time Homebuyer Program, Fannie Mae's HomeReady Mortgage, Freddie Mac Home Possible®, FHA Loans, VA Loans, and USDA Home Loans.
- Can I refinance my mortgage with Tri Counties Bank? - Annette Mercer Can I refinance my mortgage with Tri Counties Bank? Yes! Refinancing your mortgage with Tri Counties Bank could reduce your mortgage payment, help you pay off your loan faster, consolidate debt, or free up cash at a lower fixed rate.
- What can I do with a Home Equity Line of Credit? - Annette Mercer What can I do with a Home Equity Line of Credit? Turn your home's equity into cash! Use your Home Equity Line of Credit continuously, up to your available credit limit, for a variety of purposes including home improvements, education expenses and more.
- What is a Home Equity Conversion Mortgage (HECM)? What is a Home Equity Conversion Mortgage (HECM)? A Reverse Mortgage, also called a Home Equity Conversion Mortgage (HECM), is a loan that allows you to access a portion of your home's equity to supplement your retirement income.
- Am I eligible for a Reverse Mortgage? Am I eligible for a Reverse Mortgage? If you have sufficient home equity, are age 62 or older (or are married and at least one borrower is 62 or older), you may be able to benefit from a Reverse Mortgage.
- How can I use a Reverse Mortgage? How can I use a Reverse Mortgage? You can use your Reverse Mortgage to pay off your existing mortgage, improve your monthly cash flow, pay for healthcare expenses, establish an emergency fund, make home improvements and more!
- Do you provide Jumbo Reverse Mortgages? Do you provide Jumbo Reverse Mortgages? Yes, we provide Jumbo Reverse Mortgages, commonly called Proprietary Loans. These are available for borrowers with property values up to $4,000,000.
- Will I still own my home if I take out a Reverse Mortgage? Will I still own my home if I take out a Reverse Mortgage? You retain the title and ownership of your home during the life of the loan, and you can sell your home at any time. The loan will not become due as long as you continue to meet loan obligations such as living in the home, maintaining the home according to Federal Housing Administration (FHA) requirements, and paying property taxes and homeowners insurance. However, your loan balance will increase as interest and fees are added to the loan balance each month.
- Do I pay taxes on Reverse Mortgage loan proceeds? Do I pay taxes on Reverse Mortgage loan proceeds? Generally, money received is not considered income and may be tax free, although you must continue to pay required property taxes and homeowners insurance. Consult with your tax and/or financial advisor for details. Tri Counties Bank does not offer tax or legal advice.
- Will my heirs still be able to inherit my house if I take out a Reverse Mortgage? Will my heirs still be able to inherit my house if I take out a Reverse Mortgage? A Reverse Mortgage does not prevent the home from being passed on to heirs. As with all property inheritance, heirs receive the property, along with the equity or debt attached to it.