APR if Disclose IR In Pre-Qualification Letter?

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Question:

If we disclose an interest rate in a pre-qualification letter, must it disclose an APR as well? I know it must for advertisements but I am not quite sure what a pre-qualification letter is considered. It is a true pre-qualification letter, not a pre-approval.

Answer:

Although the APR is not a required element of such a letter (because it's not an advertisement), you might consider including an estimated APR, which the individual(s) can use in shopping for a loan.