With the housing market red hot these days thanks to low interest rates and limited inventory, many homebuyers are considering properties that need some work just to be able to afford a home. And some homeowners who would prefer to trade up are instead turning to renovating their current homes because there are so few properties available.

If you find yourself in either of these situations, you may be wondering what the best way to pay for your home improvements may be. The good news is there are plenty of options. Here are the most common choices along with their pros and cons.

The U.S. mortgage market is red hot right now. After a year of pandemic living, more and more people are ready to have extra space at home. With all those potential buyers searching the market, housing inventory is ultra-low and competition is extreme. According to the National Association of Realtors, there were four offers per home sold on average in February 2021.

If you are hoping to buy a home in this climate, your first move should be to get a pre-approval letter from a mortgage lender. No buyer will take your offer seriously without accompanying proof of mortgage backing. Here are five questions to ask yourself before you apply for a pre-approval letter to make sure you are ready for the process…

In today’s hot seller’s market, it may be difficult to find and buy a home as quickly as you would like. If you add in time for property search and making offers, buyers are averaging about four months to find and buy a home. While all factors are not within your control, there are several things you can do to speed the process along and avoid major delays.