Agricultural Federal Credit Union of Washington, D.C., is the first credit union to complete a CU Mortgage Association HarmonyLoan, which allows homeowners to adjust their interest rates with the market without the expense and trouble of a traditional refinance or new mortgage.
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Through access to a 24/7 web interface with Fairfax, Va.-based CUMA, credit union members are able to monitor and reset their mortgage rate with a single click.
The HarmonyLoan was created by Mortgage Harmony of Vienna, Va., and is being marketed to greater Washington credit unions through CUMA.
