01/11/2023
The more you know!
๐ค Word of the Day: Annual Percentage Rate (APR)
A federal law (TILA) was created in 1968 to promote honesty and clarity by requiring lenders to disclose terms and costs of consumer credit. The APR is required on every Loan Estimate. This regulation standardized the process of how borrowing costs are calculated and disclosed, making it easier for consumers to compare loans and credit costs with various lenders. !