The Internet is one resource you’ll consistently use to conduct your own research. From checking mortgage rates, searching for home prices, applying for a loan, or finding a real estate agent or Realtor, your entire search can easily be conducted form the privacy of your own home.

According to the National Association of Realtors (NAR), during 2005 nearly 77% of all households used the Internet to conduct their housing search. These sites were primarily used to:

1. Research home listings
2. Learn more about a specific area
3. Find out more about a real estate agent
4. Apply for a loan

It used to be, when a home was listed for sale by an agent it would appear in the Multiple Listing Service (MLS). The sales agent would research the MLS to find a home that met your requirements (e.g., 3 bedrooms, 2 baths, swimming pool with a patio, etc.). Once found, you and your agent would look together at potential home sites.

Now, by using websites you can save time and money by doing your own investigative work online. Using their search criteria tools, you can specify an exact geographic area, the minimum and maximum amount you’re willing to pay, the number of bedrooms and bathrooms you require, and other requirements.

Once retrieved from a database of over 2 million homes, you can view a photograph of the property, the square footage, get a detailed description of the property features, and even take a virtual tour of the property inside and out -- all without actually stepping foot into the home.

An estimated monthly mortgage payment calculator is also available where you can change your assumptions (i.e., down payment amount, interest rate and term) to calculate a lower or higher payment. You can even shop around for local mortgage rates to pick the best lender.

Each lender details their fees so you can see exactly what you’re paying for and negotiate better terms if possible. Based on the lender you choose, you can further finalize your monthly payment by negotiating a payment you can afford.

Using lenders online can save you days, if not weeks, on the application process. Completing the application on your own gives you the flexibility to work at your own pace and access documents you might otherwise forget in a face-to-face interview with a loan officer. Since rates vary from state to state, make sure that the lender complies with Federal and State laws so that they are authorized to operate in your state.