Mortgage Types
Open. Closed Mortgage can't be paid off without a penalty before the mortgage term expires, but many lenders allow extra annual payments of 10% - 20% of the .
http://www.housepages.ca/financing/mortgage_types.html
Below are some excerpts we found insightful from the Tiger Management founder:
TD Canada Trust - Mortgages - Glossary of Mortgage Terms
Glossary of Mortgage Terms . O. Open Mortgage - A mortgage which can be prepaid at any time, without requiring the payment of additional fees. Top .
http://www.tdcanadatrust.com/products-services/banking/mortgages/glossary.jsp
Variable-Rate Open Mortgage Options with CIBC
Learn more about CIBC Variable-Rate Open Mortgages. . A variable rate for the term that could save you money, or could cost you a little more, at any given .
https://www.cibc.com/ca/mortgages/var-rate-open-mortg.html
Real Estate and Mortgage Glossary
Note: A written promise to repay a certain sum of money on specified terms. Open End Mortgage: A mortgage permitting the mortgagor to borrow additional .
http://www.pmel.org/RealEstate-Mortgage-Glossary.htm
What is open mortgage? definition and meaning
Definition of 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. . Popular 'Lending & Credit' Terms .
http://www.investorwords.com/3448/open_mortgage.html
Choosing the Right Mortgage - Basic Mortgage Terms and Features
Open Mortgages vs. Closed Mortgage - With an open mortgage some or all of the balance of the mortgage can be repaid during the term of the mortgage without .
http://www.streetdirectory.com/travel_guide/63336/home_loans/choosing_the_right_mortgage___basic_mortgage_terms_and_features.html
Good insight from the interview with the Kynikos founder:
Definition of Mortgage Terminology
There are two types of open mortgages: Fixed rate mortgages; the term is usually fairly short (6 months to a year) although .
http://www.lighthousemortgage.ca/define.shtml
Closed Term or Open Term Mortgage? | HSBC FAQs: HSBC Bank ...
Closed Term or Open Term Mortgage from HSBC - Open means that you can pay your mortgage down or off entirely without paying a pre-payment penalty.
https://www.hsbc.ca/1/2/en/personal/mortgages-and-loans/mortgages/mortgage-faqs/closed-or-open-term-mortgage
Fixed-Rate Open Mortgage Options with CIBC
. additional mortgage payments any time with a CIBC Fixed-Rate Open Mortgage. . To avoid locking in for the long term in case interest rates come down; The .
https://www.cibc.com/ca/mortgages/fixed-rate-open-mortg.html
Canada Mortgage Rates
The borrower must pay breakage costs to the lender to pay off the balance or renegotiate the interest before the end of the term. Open mortgages can be repaid .
http://www.mortgagecalculator.org/helpful-advice/canada-mortgage-rates.php
FAQ's - Mortgages - Mortgage Canada - Canada mortgage ...
A Every mortgage has a start date and an end date. The end date is referred to the maturity date. The duration between the end date and start date is the term of .
http://www.gomortgagebroker.com/faqs.htm
Relief Refinance Mortgages – Open Access - Freddie Mac
The Freddie Mac Relief Refinance MortgageSM – Open Access helps . into mortgages that better position them for long-term homeownership success.
http://www.freddiemac.com/sell/factsheets/relief_refi_open_access.html
Open-End Mortgage Definition | Investopedia
A type of mortgage that allows the borrower to increase the amount of the mortgage at a later time. Open-end mortgages permit the borrower to go back to the .
http://www.investopedia.com/terms/open-end-mortgage.asp
Embedded below is the full Graham & Doddsville Spring 2012 issue:
Closed, Open and Convertible Mortgages - RBC Royal Bank
Interest rates for closed term mortgages are generally lower than for open term mortgages. Closed term mortgages offer you the ability to save on interest costs .
http://www.rbcroyalbank.com/mortgages/mortgage-types.html
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