Open-End Mortgage

Open-End Mortgage,

Open-End Mortgage: What is the Meaning of Open-End Mortgage?

A simple definition of Open-End Mortgage is: An open mortgage is a type of home loan that borrowers can use to further increase the principal amount of the loan. An open mortgage allows lenders to return to the lender and borrow more. There is usually a fixed dollar limit on the extra money that can be borrowed.

  • An open mortgage is a type of home loan that borrowers can later use to increase the principal amount of the loan.
  • An open mortgage allows lenders to contribute to the value of their home to cover the cost of the loan. Borrowers can pay lower interest rates because they only need to pay interest on defaults.
  • An open mortgage is beneficial for lenders who are entitled to more than the required amount to buy a home.

Literal Meanings of Open-End Mortgage

Open:

Meanings of Open:
  1. Allow access, routes or views through uninterrupted or blocked free space.

  2. Not exposed to air or covered

  3. With outer edge or open side.

  4. (Shops, entertainment venues, etc.) are available to eligible customers or visitors for business.

  5. Available free or accessible without restriction.

  6. (Someone) is open and talkative, not subject to deception or closure.

  7. (In questions, issues or decisions) is definitely not resolved, always leave the discussion

  8. (A note) The sound of an open wire or whistle.

  9. (Wire) can vibrate along its length

  10. (Circuit) which is an obstacle in the way of running.

  11. (Of letters) with relatively wide mouth and low tongue.

  12. Move or adjust (doors or windows) to make room for access and visibility.

  13. Advanced request or application.

  14. Construction (new business, mobility or business)

Sentences of Open
  1. This space is open all year round with snow plows

  2. The grill was on fire

  3. The store is open until 9 p.m.

  4. This service is open to all students

  5. I am very open about my opinion

  6. Subject options may remain open for another year

  7. For example, it contains a lot of information about the transportation of brass. B. The horns are played in different tones to achieve maximum open ends.

  8. While playing the violin, you can learn to use the open wire to provide reference notes.

Synonyms of Open

unbar, obtainable, unfasten, unbarred, unlock, straighten out, spread out, unclick, straightened out, accessible, free-spoken, unfurl, downright, unreserved, unbolted, unsettled, not afraid to call a spade a spade, candid, not shut, forthright, open for business, open to the public, unroll, unlocked

End:

Meanings of End:
  1. The last part of something, especially a period of time, activity or date.

  2. The farthest or farthest part or point of something.

  3. A goal or result.

  4. (Bowling and curling) Game sessions in a certain direction on the playing field.

  5. An offensive or defensive lineman near the line of contact.

  6. Come or break.

Sentences of End
  1. End of year

  2. Last house

  3. Each will use the other to achieve its goals

  4. Defensive end

  5. When the war ended, politics changed

Synonyms of End

boundary, object, finish, mission, finale, border, stop, target, terminate, draw to a close, goal, resolution, culmination, holy grail, aim, conclusion, objective, close, conclude, limit, edge, purpose, grail, climax, margin, extremity, furthermost part

Mortgage:

Meanings of Mortgage:
  1. A legal arrangement under which a bank or other lender borrows at interest in exchange for the allocation of the borrower's property, provided that the transfer of the property is reversed after the loan is repaid.

  2. Assign (assets) to lenders as collateral for the loan.

Sentences of Mortgage
  1. I deposited one lakh cash and took the remaining installments

Synonyms of Mortgage

mortgage, put up as collateral, pawn, credit, advance, guarantee