Finance
The Truth in Lending Act (TILA) requires lenders to disclose:
AThe property's appraised value before closing
BThe annual percentage rate (APR) and total cost of credit✓ Correct
CThe seller's net proceeds at closing
DThe borrower's credit score to the borrower
Explanation
TILA requires lenders to disclose the Annual Percentage Rate (APR) and the total cost of credit to enable consumers to compare loan products. The APR includes the interest rate plus other loan costs expressed as an annual rate.
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