| Term |
Definition |
| Open-End Credit |
A line of credit that may
be used over and over again, including credit cards, overdraft
credit accounts, and home equity lines. |
| Origination Fee |
A fee commonly charged by a
lender for processing a loan application. The origination fee may be
presented in the form of points or a dollar amount. Each point is
equal to 1 percent of the loan amount(e.g. two points on a $100,000
mortgage would cost $2,000). |
| Other |
Because of the large number
of lenders in the LendingTree network, we cannot possibly list all
of the available products. Selecting this option allows the lenders
to offer you the product they think best fits your situation. |
| Overdraft Checking |
A line of credit that
allows you to write checks or draw funds by means of an EFT card for
more than your actual balance, with an interest charge on the
overdraft. | |
