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Washington Mutual
Washington Mutual
Lender Name:
Washington Mutual
Headquarters:
Seattle, WA
Website:
www.wamu.com
Loans serviced:
1,211,346
Top states:
CA, WA, NY, NJ, MD, VA, OR, IL, GA, MI
Retail offices:
n/a
Pros:
Flexible loan products, comprehensive online account info, competitive rates
Cons:
Poor customer service, charged for phone payments
Bills.com user rating (out of 10):
7
Bills.com summary:
It's our friendly employees, our innovative approach to the mortgage loan process, and our work in our communities that makes us unique.
Bills.com opinion:
With over a century of lending experience, they have worked hard to maintain a competitive edge in the marketplace by offering consumers quality products and good rates.
Bill's Expert Advice
Refinance Success Stories
Read a personal story about going through a home refinance and gain a better understanding of how it's done.
Home refinance success story
Home Refinance Calculators
Real estate Web site offers advice for first-time buyers
An $8,000 homebuyer tax credit may be enough to motivate some consumers to buy their first home.
Mar 10 2010
Refinancing drops, while home purchases increase
Higher interest rates may be discouraging homeowners from mortgage refinancing.
Mar 10 2010
Pending home sales drop in January
A federal tax credit was not enough to fuel existing-home sales in January.
Mar 08 2010
Refinancing activity increases as rates return to low levels
The share of overall mortgage activity accounted for by refinance applications also increased to 69.1 percent from the previous week's 68.1 perc
Mar 03 2010
Refinance program extended through June 2011
The Obama administration recently announced an extension to a mortgage refinancing program aims at helping distressed homeowners.
Mar 03 2010
Glossary of Home Refinance Terms
Adjustable Rate Mortgage (ARM): a mortgage where the interest rate fluctuates periodically based on the specified index.
Annual Percentage Rate (APR): the percent of a mortgage, based on interest, mortgage insurance, and loan origination fee (points), established as a yearly rate.
Loan To Value (LTV): the ratio of the loan amount to the value of the home. LTV is used when determining interest rates. Higher LTV ratios typically result in higher interest rates.
Points: charges levied by the lender that are normally payable at closing. One point equals 1% of the value of the loan.
Refinance (Refi): paying off one loan through the means of obtaining another; refinancing is a way to secure a lower interest rate.
Average Mortgage Rates
| program | apr |
|---|---|
| 30 Yr Fixed | 5.26% |
| 15 Yr Fixed | 4.57% |
| 30 Yr Fixed Jumbo | 6.03% |
| 15 Yr Fixed Jumbo | 5.57% |
| 3/1 ARM | 4.62% |
| 5/1 ARM | 4.12% |
| 7/1 ARM | 4.4% |
| 10/1 ARM | 4.56% |
| 3/1 ARM (I/O) | 5.25% |
| 5/1 ARM (I/O) | 4.4% |
| 7/1 ARM (I/O) | 4.44% |
Home Refinance Articles and Advice
How to Determine if it's Time to Refinance
Who wouldn't enjoy a break on their monthly mortgage payment? On the other hand, how can you be sure that the timing is right to refinance? Are the rates and the current mortgage market the best indicators?
Time for a home refinance
The Why, When, and Where of Home Refinance
You've heard of refinancing, but do you know why you should go through a refinance? Do you know when the best time is to refinance? Discover the factors that determine why, when, and where to refinance your home.
Home refinance
Mortgage Refinance Dos
Getting ready for a mortgage refinance? Find out exactly what you need to do to have a trouble free mortgage refinance.
Home refinancing
How to Get the Best Home Refinance Loan Possible
Never gone through a home refinance before? Here are some things you want to make sure of before you settle on an offer.
Best home refinance loan
Bad Credit and Home Refinance
If you're struggling with bad credit, don't let your poor credit discourage you from refinancing your current mortgage. Learn how you get a bad credit home refinance loan.
Bad credit and home refinance
Bank of America Refinance Question
Looking to refinance your Bank of America mortgage?
Bills.com has the advice you need to get the best mortgage if you are a Bank of America customer.
Bank of America Refinance Question
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