Finance
The Truth in Lending Act (TILA) requires lenders to disclose to borrowers the:
AProperty's appraised value before making the loan
BAnnual percentage rate (APR) and total finance charges✓ Correct
CSeller's net proceeds from the transaction
DBuyer's credit score and debt-to-income ratio
Explanation
TILA requires lenders to clearly disclose the Annual Percentage Rate (APR) and total finance charges, among other loan terms, so borrowers can compare credit costs. The APR includes interest and certain fees, making it a broader measure of loan cost than the interest rate alone.
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