test for radon before you purchase your home

Radon is a cancer-causing radioactive gas. You cannot see, smell or taste radon, but it may be a problem in your home (with a simple solution) In fact, radon exposure is the 2nd leading cause of cancer (after smoking). In Colorado, 50% of homes have unhealthy radon levels. You can protect your family by using certified and licensed radon testers to test for the gas during the real estate transaction. And, if the levels are high, use a certified radon mitigator to fix the problem. Learn more about radon, and find a list of certified and licensed contractors at www.BoulderCountyRadon.org

After you have moved into your new home, retest for radon with a do-it-yourself home test kit every few years. Kits cost around $15 and are available on-line and at most hardware stores. Radon mitigation financial assistance is available for qualifying homeowners. Visit www.ColoradoRadon.info to see if you qualify.

Everyone deserves a safe and healthy home! Simple steps can keep your home safe and comfortable. According to the U.S. Department of Housing and Urban Development (HUD), a healthy home consists of the following eight principles:

1 2 3

4 5 6 7 8

Keep it DRY.

Keep it CLEAN.

Keep it SAFE.

Keep it WELL-VENTILATED.

Keep it PEST-FREE.

Keep it CONTAMINANT-FREE (including asbestos, carbon monoxide, lead, mold, radon, and secondhand and marijuana smoke).

Keep it MAINTAINED.

Keep it THERMALLY CONTROLLED.

Common recommended controls include:

• Testing for lead and asbestos before any renovations.

• Fixing the causes of water damage and removing affected building materials.

• Removing and minimizing contaminants within the home.

• Testing for radon every 2-5 years and remediating, as needed.

• Regularly test your Carbon monoxide and fire detectors, replace batteries as needed

Did You Know?

Did you know the average person spends 90% of their time indoors? Often indoor air quality is often worse than the quality of air outdoors. Some of the pollutants or contaminants that can impact indoor air quality include radon, lead, asbestos, mold, tobacco smoke, and household chemicals (e.g., cleaning agents, pesticides, paints). Other factors that can affect indoor air quality include combustion appliances, ventilation systems, and cooking practices. Learn more at www.boco.org/healthyhome.

Mortgage 101

Before we get started on mortgages, remember it’s important to create and stick-to a realistic spending plan and know your numbers!

Know Your Numbers

Total Monthly Payment Desired (page 11, line 9)

Percentage of your income to be spent on mortgage

Total needed to close (down payment and closing costs)

Credit Score(s)

Did You Know?

mort•gage (noun) /môrgij/ A legal document you sign when you buy or refinance a home that gives the lender the right to take the property if you don’t repay the loan.

“Mortgage” comes from the Latin word mort, meaning death — as in “this debt is yours until you die.” Mortgages are more flexible than their root word implies, but these legal agreements that cement your responsibility to repay your home loan are still a big commitment.

WHO CAN MAKE MORTGAGE LOANS? BANKS MORTGAGE BANKERS CREDIT UNIONS

Mortgage Brokers Seller Financing

Online Lenders

What’s the difference between a Mortgage Banker and Mortgage Broker? Both can help you get a home loan, however, a Mortgage Banker works for a bank or similar lending institution which actually provides you the money for the loan, while a Mortgage Broker doesn’t represent an institution, but rather works with many to shop for a loan specific to you. The banker is a direct lender while a broker is a middleman between you and the lender.

Servicers are banks and lenders whose job it is to collect your monthly payment, pay your property taxes and homeowners insurance, and remit the principal and interest to the investor that owns your loan.

Investors

Investors are private or government entities that invest in mortgage loans and may purchase your loan from your original lender. The largest investors in mortgage loans are Fannie Mae (FNMA), Freddie Mac (FHLMC), and Ginnie Mae (GNMA). In Colorado, Colorado Housing and Finance Authority (CHFA) is an investor.

Overview of the mortgage loan process

It’s important to be aware of all of the different people and stages involved in your mortgage loan. From application to closing, there will be many sets of eyes reviewing your mortgage application and moving it forward. The graphic below helps describe the different people and departments involved in moving your mortgage from application to closing.