How to Use the Internet to Search for a Home

Technology has made it easier than ever to search for a new home, but where do you start?

Step 1. You need to know how much you can afford in a home. 

Start by using a mortgage calculator.

• To get the best idea for how much you can afford, leave the years at 30. Most home loans are at 30 years, so unless you know that you will do differently it is best to leave that number alone.
  
• Type in the highest interest rate. Use RATE.com to find out what the current Utah mortgage rates are running at. As of Dec, 2014, it is 4.10%. Depending on who you get your loan through this number may change. Using the highest rate will give you the best idea of cost.
  
• Loan amount is the ideal cost of home you want to purchase. If you aren't sure what price of home you are looking at, try $150,000 as a starting point and adjust based on results.
  
• The tax and insurance is already typed for you, but be aware that they are estimates and not guarantees. 

Step 2. Find an agent and get pre-approval.

• Start talking to real estate agents to find one that you want to work with. You can buy a home without an agent, but they will make the process easier, they can also direct you to a loan officer that they trust.
  
• Shop around for home loans, different companies will give you different numbers so make sure you get the right price. Remember that you want to be pre-approved and not pre-qualified.  

Once you have the pre-approval use that amount to shop for homes.

Step 3. Start the home hunt. 

Use an MLS search to look for homes.

• Once you know what you can afford, it is easier to know what homes you should be looking at. An MLS search is the best place online to look for homes.
  
• If you have an agent, they can also give you a list of homes in your price range and location you are looking in. 

Once you have a few homes you are interested in, it’s time to do the walk through. Schedule a walk through, drive by the home, get a feel for the area and the home.