Offer Expires
The expiration date of a credit card offer. After an offer expires, you might not be eligible to take advantage of the terms the card issuer extended to you.

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.

Open-End Lease
A lease which requires the lessee (the person leasing the auto) to pay any difference between the residual value of the auto and the fair market value of the auto at the end of the lease. The risk of paying depreciation greater than anticipated and stated in the lease at the time of the lease negotiation is assumed by the the lessee, not the lessor (or company leasing the car). Also see close-end lease, which is the better of the two kinds of leases to have.

Option To Buy
In auto leasing, the option to buy a leased auto usually during the life of a lease or when the lease ends. You have an option to buy the leased auto only if you have an open-end lease, which is better than a closed-end lease. Also called a lease buy-out.

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.

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