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.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Advertising regulations govern how real estate licensees may market properties and services, requiring truthful, non-deceptive advertising that includes proper identification of the brokerage.
Antitrust violations in real estate occur when competing brokerages or agents engage in practices that restrain trade, reduce competition, or harm consumers through collusion. These violations are governed by the Sherman Antitrust Act and can result in severe penalties.
Broker supervision is the legal obligation of a designated or managing broker to oversee and be accountable for the real estate activities of all salespersons and associate brokers operating under their license.
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