Financial Literacy

Most mortgage professionals will tell you that when looking for a house, you should begin by speaking with a lender first to secure a mortgage pre-approval. Pre-approval from your bank or credit union is a powerful tool when house hunting, and,it is easier to shop for a property when you know how much you have to spend. A mortgage pre-approval is the process by which it is determined whether a borrower meets a particular lender’s guidelines for a home loan. For a review of the Mortgage Pre-Approval process, check out this  article from The Mortgage Reports .

A health savings account (HSA) is a tax-advantaged medical savings account available to taxpayers in the United States who are enrolled in a high-deductible health plan (HDHP). The funds contributed to an account are not subject to federal income tax at the time of deposit. Unlike a flexible spending account (FSA), HSA funds roll over and accumulate year to year if they are not spent. HSAs are owned by the individual, which differentiates them from company-owned Health Reimbursement Arrangements (HRA) that are an alternate tax-deductible source of funds paired with either HDHPs or standard health plans. Kiplinger describes the HSA as a "powerful financial tool to cover medical expenses and save for the future." Read the entire Kiplinger article here . Most Credit Unions and Banks in the US offer an HSA account. If you're interested in learning more, or, opening an HSA, visit the rateseer Savings Account page for a comparison of rates and features.