Money One FCU Adds Self-Adjusting HarmonyLoan

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LARGO, Md. – Money One FCU said yesterday it is now offering members a HarmonyLoan mortgage, which adjusts its interest rate at the member’s call.

The HarmonyLoan is a consumer-initiated, interest rate-resetting mortgage that aligns the interests of the consumer and credit union in a way that is unprecedented in the industry, its developers said. It allows homeowners to adjust their interest rates with the market without the cost and hassle of a traditional refinance or new mortgage.

Money One is one of several Washington-area members of the CU Mortgage Association to offer the HarmonyLoan, which was developed by Mortgage Harmony Corp. in Tysons Corner, Va.

 

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