Finance
The Truth in Lending Act (TILA) requires Kentucky lenders to disclose the:
AAppraised value of the property
BAnnual Percentage Rate (APR) to the borrower✓ Correct
CBroker's commission
DProperty tax estimate
Explanation
TILA requires lenders to disclose the Annual Percentage Rate (APR), which represents the true cost of credit including interest and certain fees, so borrowers can compare loan offers.
Related Kentucky Finance Questions
- Which federal law gives borrowers the right to receive a copy of their credit report when credit is denied?
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