Mortgage Product Incentive: A New Trend?
A: Thanks to Mike for tipping me off to this one! In what could be a new trend to help stimulate business, Washington Mutual (NYSE: WM) is offering a few New Yorkers an incentive of $2,500 to the first 50 customers of a new mortgage product who visit the WaMu store at 235 West 56th Street in New York on Friday, April 27th!
Using "faux fire" theatrics, the bank will "set fire" to the recipients' first month mortgage statement and provide them with their first monthly payment (valued at $2,500). The event is free and open to the public.
WHEN: Friday, April 27th 11:00 a.m. - arrival 11:30 a.m - 2pm - mortgage "burning"/mortgage payment giveaway
WHERE: Washington Mutual 235 West 56th Street (corner of 56th St. and 8th Ave)
WHY: WaMu is "lighting a fire" under the mortgage industry by bringing an exciting new, flexible mortgage product to market. Details of what and how this new product works will be available on Thursday, April 26.
Well I'm curious to know what this new mortgage product is so that I can investigate who it might be best suited for. While NO ONE should ever consider altering their decision to buy sooner because of a deal like this, it might be worthwhile for those buyers who are already IN CONTRACT as of the last week or so and were seeking to lock in a rate with a mortgage lender in the very near future. Perhaps the new loan product will be suited for your investment needs and the $2,500 giveaway will help keep closing costs a bit lower!
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Comments (1)
I heard there are no closing costs for the new product...sounds like a good deal to me!
Posted by Anonymous | April 25, 2007 6:39 AM