Is APR required to be disclosed?

Posted By: Rdy2Retire

Is APR required to be disclosed? - 12/06/12 03:12 PM

Marketing wants an ad to contain something similiar to the following: Donít be left behind. Get your mortgage while rates are still under 4%. Is an APR required to be disclosed?
Posted By: rlcarey

Re: Is APR required to be disclosed? - 12/06/12 03:37 PM

Yes, the only rate you can advertise is an APR. A simple annual rate can be optionally added, Refer to 1026.24(c).