Finance
The Truth in Lending Act (TILA) requires lenders to disclose the:
AProperty tax rate
BAnnual Percentage Rate (APR) and total cost of the loan✓ Correct
CSeller's net proceeds from the transaction
DAppraised value of the property
Explanation
TILA requires lenders to disclose the APR and total cost of credit, allowing consumers to compare loan terms from different lenders. The APR includes the interest rate plus fees, giving a more complete cost picture than the interest rate alone.
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