Finance
What does the Truth in Lending Act (TILA) require lenders to disclose to Virginia borrowers?
AThe property's appraised value
BThe Annual Percentage Rate (APR) and total cost of credit✓ Correct
CThe seller's outstanding mortgage balance
DThe buyer's credit score
Explanation
TILA requires lenders to disclose the Annual Percentage Rate (APR), finance charges, total payments, and other credit costs so borrowers can compare loan terms accurately.
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