You can now reap the benefits of recent amendments to the Fair Credit Reporting Act that require each of the nationwide credit-reporting bureaus—Equifax, Experian, and TransUnion—to provide consumers with one free copy of their credit report every 12 months. These reports contain consumers’ payment histories, loan balances, and other personal and financial information used by lenders, landlords, employers, and insurers.

Prospective homebuyers who take advantage of these free reports can avoid surprises when they eventually apply for a loan. When you recieve your credit report, check the accuracy of the report and clear up any discrepancies before initiating your search for a new home.  Also, be sure to pay special attention to your payment history and use of credit to ensure someone else hasn’t opened accounts in your name.

To receive your free reports from all three bureaus, visit AnnualCreditReport.com or call toll-free 877/322-8228. You will need to supply information like your name, date of birth, Social Security number, current address, and past addresses to verify your identity. Even if you’re not thinking about buying a vacation home, credit experts recommend that all consumers keep tabs on their use of credit