Sep 30, 2019 · The Demand Feature means that your lender can call your loan at any time. This means that the principal (borrowed amount) and the interest rate are due at that time. The lender can put this demand on you for any reason or even for no reason at all. There are three different features that fall under the category of Demand Feature, make sure you understand them properly.
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A demand feature permits the lender to require early repayment of the loan. If the demand feature is checked "yes," the lender can require that you immediately pay the entire loan balance (principal and interest) at any time. The lender can make this demand on you for any reason or for no reason.
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Sep 10, 2020 · What is a Demand Feature in a Mortgage Loan? A demand feature simply allows the lender to demand the full payment of the loan before time, and you will have to comply with it if you’ve agreed to it in the contract. At that point, you will pay the principal amount and the interest that is associated with it.
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Jun 19, 2018 · The Demand Feature Defined. 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 clause: acceleration clause – This clause gives the lender the right to demand full payment of your mortgage because you violated the contract.
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