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  • Creative Mortgage Loans For Diverse Needs: Technology Credit Union Introduces Customized Home Loan Choices

    Leading Bay Area credit union announces a suite of new personalized mortgage products for California homebuyers and investors  

    SAN JOSE, Calif., (April 27, 2006) — Just like every home, every homebuyer is unique. Tech CU recognizes that each home loan needs to be customized to the buyer’s individual situation, from first-time buyers to established real estate investors. To better serve this unique and ever-changing California market, Tech CU has rolled out a line of NEW home loan products.

    Creative home loan options:  

    • Options for the self-employed: The income documentation process can cause hassles for some homebuyers. By simply stating income and assets, the Stated Income, Stated Asset (SISA) program expedites the loan application process, helping buyers to get approved quicker and easier.
    • Mixed-Use loans: Ideal for investors looking to purchase a building that includes apartment units and retail space, Tech CU’s Mixed-Use lending program offers financing up to $7.5 million on properties with five or more units.

    Versatile lines of credit:  

    • Prime Advantage: Tech CU introduced a one-year fixed home equity line of credit to provide members with peace of mind amid rising interest rates.
    • Apartment Lines of Credit: This stand alone line of credit is perfect for apartment owners looking to improve cash-flow, remodel or purchase new investments.

    Focusing on education—Spring real estate week (May 3-10):
    During Tech CU’s spring educational real estate week, the Credit Union, in partnership with local real estate professionals, offers free educational seminars on home buying and real estate investments. Tech CU’s seminars are free, educational in nature, and open to the public. To register, please visit: www.techcu.com/events.

    About Technology Credit Union
    Technology Credit Union is a member-owned, full-service financial provider that offers services to technology and business professionals in California and their families, focusing primarily on serving individuals who work, live, go to school, or regularly worship in Santa Clara, Alameda, San Mateo, Santa Cruz, San Francisco and Contra Costa counties. Tech CU was started in 1960 and is now among the top 1% of the nation’s largest credit unions. With more than $1.4 billion in assets, and seven full-service branches in the Bay Area, Tech CU is a leader in the credit union industry. For more information, visit www.techcu.com.

    Contact:
    Ivy Widman
    Field Marketing Coordinator
    Phone: 408-441-4757
    Fax: 408-453-0741