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  2. Open-ended mortgages: What are they and how do they work? - AOL

    www.aol.com/finance/open-ended-mortgages...

    Open-end mortgages work similar to a home equity line of credit, but you can only use the drawn funds for upgrades to your property. Few mortgage lenders offer open-end loans.

  3. Home equity loan - Wikipedia

    en.wikipedia.org/wiki/Home_equity_loan

    Home equity loans come in two types: closed end (traditionally just called a home-equity loan) and open end (a.k.a. a home equity line of credit (HELOC)). Both are usually referred to as second mortgages, because they are secured against the value of the property, just like a traditional mortgage.

  4. Open-End vs. Closed-End Funds: Here’s the Difference ... - AOL

    www.aol.com/finance/open-end-vs-closed-end...

    For premium support please call: 800-290-4726 more ways to reach us

  5. Closed-end credit - Wikipedia

    en.wikipedia.org/wiki/Closed-end_credit

    In finance, closed-end credit is a type of credit that should be repaid in full amount by the end of the term, by a specified date. The repayment includes all the interests and financial charges agreed at the signing of the credit agreement. Closed-end credits include all kinds of mortgage lending and car loans.

  6. A Guide to Open-End Mortgages - AOL

    www.aol.com/news/guide-open-end-mortgages...

    An open-end mortgage allows you to borrow additional money on the same loan at a later date. An open-end mortgage blends some qualities of a traditional mortgage with some features of a home ...

  7. Line of credit - Wikipedia

    en.wikipedia.org/wiki/Line_of_credit

    A closed-end line of credit, on the other hand, has a fixed term. The term is divided into a draw period, where the borrower can draw money from the LOC as needed up to their credit limit, and a repayment period, where they can no longer draw money and are required to make monthly payments. [9]

  8. Mortgage industry of the United States - Wikipedia

    en.wikipedia.org/wiki/Mortgage_industry_of_the...

    Mortgage loan financing relies more on secondary mortgage markets and less on formal government guarantees backed by covered bonds and deposits. [8] [9] Prepayment penalties are discouraged by underwriting requirements of large organizations such as Fannie Mae and Freddie Mac. [8] Mortgages loans are often nonrecourse debt, unlike most of the ...

  9. What Are Closed-End Funds? - AOL

    www.aol.com/finance/closed-end-funds-191325195.html

    Most mutual funds and exchange-traded funds available to retirement investors are open-end funds. Learn the difference between open-end and closed-end funds.

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