Open-End Mortgage

admin 2019.06.05 20:41 Views : 303

What is an Open-End Mortgage

An open-end mortgage is a type of mortgage that allows the borrower to increase the amount of the mortgage principal outstanding at a later time. Open-end mortgages permit the borrower to go back to the lender and borrow more money. There is usually a set dollar limit on the additional amount that can be borrowed.

 

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