Washington Mutual Online Banking

We had an overview of the Washington Mutual Online banking mortgage offers a couple of days ago, but didn’t get very in-depth with the rates available.  So we here at Savings Accounts 411 thought we would get more nitty-gritty with the WaMu mortgage rates offers from Chase Bank right now.

For this comparison, we’ll assume an average credit history, 10% down payment, and will look at both fixed and adjustable rate mortgages (ARM).  Of course, your actual Washington Mutual mortgage rates will vary from these, depending on credit history and circumstances, but these will give you a good idea of what’s realistically avaialble in WaMu mortgage rates.

For a 15-year fixed rate, these circumstances would give an annual percentage rate (APR) of 4.857%.  A slightly higher rate on a 20-year fixed of 5.207% APR is also available.  The more traditional 30-year fixed Washington Mutual Mortgage rates would be at 4.601% APR for this loan type.

For ARM loans, a 5/1 would be at a 4.64% APR for the fixed term while a 3/1 would be at 4.575% APR for the fixed term.  While adjustable mortgages have gotten a bad name with the current economic problems, they can be the right choice for some people.  So don’t count them out.

Overall, the Chase / Washington Mutual Online banking offers for WaMu mortgage rates are definitely competitive.  Rates will change, of course, with the market and the Fed’s interest, and what you qualify for will depend on your individual circumstances.