Finance
The Truth in Lending Act (TILA) requires lenders to disclose the:
AProperty's appraised value
BAnnual Percentage Rate (APR) and total finance charges✓ Correct
CSeller's mortgage balance
DTitle insurance premium
Explanation
TILA (Regulation Z) requires lenders to clearly disclose the Annual Percentage Rate (APR), total finance charges, amount financed, and total payment. The APR includes interest plus fees, giving borrowers a true cost of credit for comparison.
Related California Finance Questions
- What is the primary purpose of the Truth in Lending Act (TILA) as it applies to California real estate transactions?
- What is the maximum seller concession allowed on a conventional loan with less than 10% down?
- What is the 'secondary mortgage market'?
- A mortgage broker differs from a mortgage banker in that a mortgage broker:
- California's anti-deficiency statutes generally protect borrowers in which foreclosure scenario?
- What is a 'loan discount point'?
- What type of loan is guaranteed by the Department of Veterans Affairs?
- What is the difference between a mortgage and a deed of trust?
Practice More California Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free California Quiz →