Is it a big deal for purchasing a home or selling? With this information, you might think twice before skipping the inspection. Around 22,000 deaths every year are caused by radon, as it is the 2nd leading cause of lung cancer (behind smoking). Radon is invisible and odorless, and is especially prevalent in Portland due to the soil containing granite, which has uranium, and breaks down to produce radon gas. Radon mitigation can cost between $1,500 and $2,000 for most single family homes. Sellers can purchase a store bought kit to test for radon or have a professional inspection done.
USDA home loans have been shortened to a turn around time of 5 days. That's good news, compared to the longer turn around times we were seeing prior to December 1st of last year. Loan officers therefore could probably close a USDA loan in about 45 days. I believe there were people avoiding USDA loans because of the long turn around times; however, they are a favorable loan as they provide 100% financing to eligible individuals in eligible areas. These loans eliminate the need for a down payment as well as private mortgage insurance. The interest rates provided are affordable, and the program has favorable terms. Below is a link to the website. If you would like more information on qualifying for a USDA loan or home locations, feel free to contact me, or visit either of these websites:
USDA HOME LOCATIONS