Proving that every cloud has some silver linings, the $1.4 billion Technology Credit Union, headquartered in San Jose, Calif., announced that it has jumbo home mortgage loans available.
"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 origination for Tech CU. "This loan product was created for members with good credit who want to refinance or purchase an upper end home and enjoy the benefit of fixed payments."
The credit union pointed to data which shows that roughly a third of home sales in the San Francisco Bay area in December of last year were for at least $500,000 and that roughly half of all homes sold in the decade changed hands for at least that much.
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