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Must I Disclose Both Rates?

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Question: 
We have tiered our Home Equity Loan rates based on dollar amount. $25,000 and above get one rate then dollar amounts below $25,000 get a higher rate. Do I have to disclose both rates or can I just advertise the rate associated with the $25,000 and state that it is for amounts $25,000 and greater?
Answer: 

So long as the rates you advertise are available and are not misleading, you are fine to advertise this product with a qualification that it is for loans $25,000 and above.

You may mention that other rates and terms are available for smaller loans.

If you disclose any triggering terms for either product, the necessary disclosures would have to be made.

First published on BankersOnline.com 1/9/06

First published on 01/09/2006

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