What Does A Demand Feature Mean In A Mortgage Loan?

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The demand feature on a mortgage means the lender can call your loan at any point. Before you agree to such a loan, make sure you know what it means. The VA does not actually fund mortgages – it’s a guaranty program.

It does so by … the "term" of the loan.) In this way, every loan payment is the exact same amount of money. Consider a 30-year mortgage loan of $165,000 over a 30-year time period, with an interest …

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Answer: The mortgage loan demand feature gives the lender the right to ask for full loan repayment for any reason. If your agreement includes such a feature, you would …

Make sure to pay careful attention to this area of the document to make sure you know if your loan has a demand feature. Click to See the Latest Mortgage Rates. If your loan has a demand clause, it’s important to find out the circumstances in which a lender can call the loan.

Answer: The Closing Disclosure has a statement that reads “Your loan has a demand feature,” which is checked “yes” or “no.” A demand feature permits the lender to require early repayment of the loan. If you are applying for a HELOC, a manufactured housing loan that is not secured by real estate, or a loan through certain types of homebuyer assistance programs, you will not receive a HUD-1 or a Closing …

The demand feature means the lender can ‘call’ your loan at any point. This means the principal and interest due at that point. But before you panic, there are three different features that can fall under the demand …

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Furthermore, the Federal Reserve Senior Loan Survey, published quarterly, indicated a drop in demand for loans across the board. Wells Fargo (WFC) is showing contractionary numbers across nearly every …

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