Could it be? Are banks finally getting the picture? It sounds like Washington Mutual is. They may be the only mortgage lender in the country who understands it’s all about the customer. Up until WaMu came along, if you wanted to change your loan from variable to fixed (or vice-versa), you had to refinance, pay horrendous fees, wait who knows how long and suffer the myriad consequences of your decision.
Those days are long gone at WaMu. How does 15 minutes and free sound to change your mortgage from variable to fixed (or vice-versa)? The cost? Free!!! Actually it’s free the first time. Subsequent changes cost $250. That’s it. A flat fee. No hidden costs, no hidden agendas. And still, it’s all accomplished in less than an hour. For those really indecisive people (or those who like to see themselves taking advantage of every little nuance of the market), mortgages can be changed twice a year. $250. Rock and roll.
To read more about this revolutionary practice (one I hope catches fire with every lender on every type of loan), click here.
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