Common use of Term of Loan Clause in Contracts

Term of Loan. There is no minimum term on home purchase Loans and the maximum term is 40 years for all loans. A repayment period for a new Further Advance that would extend beyond the term of the original advance may also be accepted at the Seller's discretion, subject to the following:

Term of Loan. There is no minimum term on home purchase Loans and the maximum term is 40 years for all loans. A repayment period for a new Further Advance that would extend beyond the term of the original advance may also be accepted at the Seller's ’s discretion, subject to the following:

Term of Loan. There is no minimum term on home purchase Loans and the maximum term is 25 years for repayment Mortgages. A maximum term of 40 years is available for all loansinterest-only Mortgages. A repayment period for a new Further Advance that would extend beyond the term of the original advance may also be accepted at the Seller's discretion, subject to the following: