Technology Credit Union of San Jose, Calif., has rolled out a super-jumbo mortgage with a 30-year fixed-rate balance of up to $3 million.
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"It's no secret Bay Area housing prices and the cost of living are amongst the highest in the nation," said Steve Donahue, vice president of mortgage originations for the $1.4 billion credit union, in a Jan. 31 press release. To promote the loan, the credit union is offering a Quick Close Guarantee, paying buyers a $100 gift card if the credit union can't close in 10 business days.
Membership in the credit union is open to businesses and consumers who live or work in the Bay Area.
