Thursday Jul 02, 2020

Mortgage Rates and HSAs

Are you looking at the mortgage rates right now and considering making a home purchase or refinancing your home? If so, what do you need to know beforehand? Matt will also tackle a discussion of whether you should have a Health Savings Account.

Show Notes, Resources & Contact Info:

https://smartmoneyquestions.com/

Timestamps:

1:22 - Today we’re going over mortgages and HSAs.

4:17 - Mortgage rates have dropped to historic lows.

8:18 - What is a cash out refinance and rate and term refinance?

9:30 - What requirements are in your loan?

11:11 - How does a variable rate work?

12:27 - What are the closing costs?

15:55 - Are you eligible for any discounts?

17:20 - Make sure you understand what you are getting into.

20:01 - How is the bank expecting you to pay back a home equity line?

20:40 - A home equity line of credit can be very valuable when needed.

21:42 - What is a Health Savings Account?

23:31 - Qualified medical expenses can be paid out in the future, tax-free.

24:49 - How does Matt use his HSA?

26:15 - What are the drawbacks?

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