SAN JOSE, Calif. – Technology CU announced yesterday the introduction of a five-year ARM for as much as $1 million for buyers seeking an affordable home loan in the Bay Area's high-priced housing market.
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Introduction of the jumbo loan comes as area homebuyers are having a hard time finding affordable jumbo loans, mainly because of difficulty selling them on the secondary market.
"It's a great time to take advantage of this type of loan, if you can get it," said Donahue. "When home prices and loan rates are at historic lows, you could end up getting a lot more home for your money, and keep more money in your pocket too."
