FT MarketWatch

Open mortgage

Mortgage that can be Paid off prior to Maturity without Penalty. In general, lenders do not like Open mortgages because the early payoff reduces the Interest they earn.

Related Terms: 9 Interest, Lend, Lender, Maturity, Mortgage, Open mortgage, Open, Penalty, Paid
Other Related Pages: Category: Real_Estate Starting With: O
Additional Related Terms: 10-K, Accrual of discount, Accrued interest, Amortization of premium, At par, All or any part, At best, At call, At risk, Abstract of title