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Washington Mutual

Based in Seattle, Washington, Washington Mutual is a financial services company—although the name indicates it, the company is not a credit union or mutual company.
Headquartered in the Washington Mutual Tower in downtown Seattle, the company began moving to its new location at the new Wamu Center in March 2006.

As of June 2005, Washington Mutual was ranked the 6th largest bank in the United States, with more than $343 billion in assets.  Washington Mutual currently operates more than 2,541 retail banking, mortgage lending, consumer lending, business banking, business lending, insurance services, credit card services, and consumer investment services.

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For customers interested in consolidating their high-interest credit card and additional debt, Washington Mutual offers lending programs and services to meet those needs.  Features and benefits of these programs include:

Home Equity Loan

  • Distributed in one lump sum;
  • Ideal for those who know exactly how much money they need to borrow;
  • Collect your funds through an issued check, or have them directly deposited into an account of your choice;
  • Fixed monthly payments for the term of the loan;
  • Borrowing limits up to $500,000;
  • Fixed interest rate for the term of the loan;
  • Interest may be tax deductible (consult your tax advisor).

Home Equity Line of Credit

  • Revolving credit account, with the ability to access over time;
  • Access funds though provided checks or the issued Equity Line Visa;
  • Monthly payments are determined by the balance of your credit line;
  • Variable interest rates;
  • Fixed rate option for portions of the line by using the WaMu Equity Plus program;
  • Choose between interest only payments, or pay on your principal, too;
  • Interest may be tax deductible (consult your tax advisor);
  • Borrowing limits up to $1,000,000.

Note that lending programs, rates and terms can vary by state.  Consult a Washington Mutual Lending Specialist to determine what is available in your area.

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* Debt Basics is not a lender or broker. We provide information and research on debt help and debt consolidation. Product and service offerings differ by state.