A Guide to Open-End Mortgages
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A Guide to 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 equity line of credit, or HELOC. It lets you turn the value of the equity in your home into cash by later increasing the original balance of your loan.
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