Lender Promises $500 If Loan Doesn’t Close in 10 Days

Nonconforming

Technology Credit Union of San Jose, Calif., is offering pre-approvals for home loans and a “quick close” guarantee for those who qualify: If the CU doesn’t close a buyer’s purchase loan within 10 business days, the applicant will receive a $500 gift card.

“Today, it’s critical that homebuyers move as quickly as possible once they’ve found a home to buy,” said Steve Donahue, vice president of mortgage originations for the $1.7 billion credit union.

“We can help them with this because of our local decision-making and approval process. A Tech CU mortgage can be approved within days not weeks, ensuring the buyer can close escrow on time.”

Tech CU offers a variety of residential loan options including jumbos (up to $3 million), ARMs, FRMs, out-of-state loans and FHA products.

 

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