Anyone about to become a new home buyer needs to know something about ECOA and FCRA.

These are two of the most important federal laws which provide you with protection during the processing of your home loan. The Equal Credit Opportunity Act ("ECOA"), the Fair Housing Act, and the Fair Credit Reporting Act ("FCRA") prohibit discrimination and provide you with the right to certain credit information.

These acts prevent discrimination against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age, the fact that all or part of the your income might come from public assistance , or the fact that the you have exercised any right under any federal consumer credit protection law. To help government agencies monitor ECOA compliance, your lender or mortgage broker will ask for information about your age, race, sex and marital status.

Before choosing a realtor, selecting a mortgage company, or buying a home, compare different sites to find the one that best fits you and your needs.