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MortgageKeeper introduces nonprofit Web subscription service

National Mortgage Professional
Jan 09, 2007

BankUnited offers new adjustable-rate mortgageMortgagePress.com5-year ARM BankUnited Financial Corporation has begun offering a new adjustable-rate mortgage (ARM), titled the 5-Year Select Monthly ARM, with which the borrower's rate is fixed during the first five years and three types of monthly payment options are available (minimum, interest only and full payment). After five years, the loan's interest rate adjusts monthly to the MTA index and borrowers pay off the principal and interest remaining on the loan. After this period, payment increases are capped at 7.5 percent. Interest may be deferred up to 115 percent of the principal balance at any time, during the life of the loan. Coral Gables, Fla.-based BankUnited Financial Corporation is the holding company for BankUnited FSB. For more information, call (877) 779-2265 or visit www.bankunited.com.
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