Call (253) 999-2371 Paul Chunyk is a Realtor in Tacoma, WA. See our new homes for sale in Tacoma, Washington, and all of Pierce County. Search the Tacoma Real Estate Market - condos, mansions, luxury homes, and more

What You Need to Know About Your Buyer Rights

When you are looking to buy a home, make sure to know your buyer rights. There are so many steps within the home buying process that being aware of your rights tends to seem less important. Being educated on your home buyer rights will help you know if you are being treated correctly.

When you are applying for a loan, the Equal Credit Opportunity Act was created to ensure that you are not discriminated based off of your race, religion, gender, marital status, age, or sexual orientation. Though there is a section on the application that requires you to provide such information, the information is used by the government to ensure that lenders are not discriminating. Your past employment, current income, assets, and credit score are the factors to be considered.

Gender, sexual orientation, and marital status

A lender may ask you for your marital status (married, unmarried, or separated), but you should never be asked whether you have been divorced or if your spouse has deceased.

If you are married, your income and your spouse’s income will be used to figure out your rate.

Children

The creditor may not ask you if you are planning on having children, but they can ask you if you are responsible for paying alimony or child support. This information can be used to help you qualify for a specific loan because of the additional income. If you do not need to extra income, you do not have to provide that information.

Age

Your age (after you turn 62) cannot be used to penalize you, only to provide you with special deals. If you are nearing the age of retirement, a lender can use that information as it changes your income and credit trustworthiness.

If there is any area that you feel the lender is using to discriminate against you, do something about it. The first step for you is to talk to your lender. Ask them to redo your application. If they do not comply, the next step is to contact your local Attorney General’s office. Take action to ensure that you are being treated fairly.

Contact Paul Chunyk

Reach out to me, I would love to give you more details and get you headed in the right direction to accomplish your goals.

"*" indicates required fields

Name*
This field is for validation purposes and should be left unchanged.