Common use of Your option Clause in Contracts

Your option. At any time during the term of the loan, you can ask us to make a new loan to you secured by the property, where the amount of the new loan is more than what is owed under the old loan when we make the new loan. The new loan is as follows:  It's a fixed rate closed term.  It has the same balance due date as the old loan.  The interest rate is the blended interest rate (see section 1.4). You don't have to pay us a prepayment charge. We don't have to make the new loan unless our usual credit requirements are met.

Your option. At any time during the term of the loan, you can ask us to make a new loan to you secured by the property, where the amount of the new loan is more than what is owed under the old loan when we make the new loan. The new loan is as follows:  • It's a fixed rate closed term.  • It has the same balance due date as the old loan.  • The interest rate is the blended interest rate (see section 1.4). You don't have to pay us a prepayment charge. We don't have to make the new loan unless our usual credit requirements are met.

Your option. At any time during the term of the loan, you can ask us to make a new loan to you secured by the property, where the amount of the new loan is more than what is owed under the old loan when we make the new loan. The new loan is as follows:  • It's a fixed rate closed term.  • It has the same balance due date as the old loan.  • The interest rate is the blended interest rate (see section 1.43.4). You don't have to pay us a prepayment charge. We don't have to make the new loan unless our usual credit requirements are met.