Final answer:
FHA and VA loans do not typically have a due-on-sale clause, which allows these loans to be assumed by another party without the need to repay the loan in full upon property transfer.
Step-by-step explanation:
FHA (Federal Housing Administration) and VA (Veterans Affairs) loans are unique types of mortgage loans that offer several benefits to borrowers, including the possibility of assumption.
The question refers to the characteristics of these loans in terms of their assumability. FHA and VA loans, unlike many conventional loans, do not typically include a due-on-sale clause. This clause allows a lender to demand the full repayment of the loan if the property is sold or otherwise transferred. The absence of a due-on-sale clause means that these loans can usually be assumed by another party without requiring the loan to be repaid in full at the time of transfer.