Practice Of Real EstateAdvertising_regulationsHARD
A lender advertises '0% down payment on VA loans.' Because this ad names a specific down-payment amount, which Regulation Z requirement is triggered?
Correct Answer
B) The lender must also disclose the APR and all additional required credit terms
Stating a specific down-payment amount, even 0%, is a trigger term under Regulation Z. This requires the ad to include the APR and other required credit terms such as the loan term and repayment schedule.
Answer Options
A
The lender must disclose the property's appraised valueB
The lender must also disclose the APR and all additional required credit termsC
The lender must remove the ad within 24 hoursD
The lender must include the borrower's credit score rangeWhy This Is the Correct Answer
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Related Topics & Key Terms
Key Terms:
advertising_regulationspracticereg_ztrigger_terms
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