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What is a Truth-In-Lending Disclosure (TIL) and why do I receive it?

April 26, 2017disclosure Til truth-in-lending

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What is a Truth-In-Lending Disclosure (TIL) and why do I receive it?

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This is a Disclosure is designed to give you information about the costs of your loan so that you may compare these costs with those of other loan programs or lenders. It is usually prepared in combination with the Good Faith Estimate. The Federal government requires the TIL to be provided to the borrower within 3 business days of loan application..