First-Time Buyer Checklist: 8 Things to Do Before You Start House Hunting

Ready to buy your first home? That’s exciting — but don’t skip ahead to browsing listings just yet. Before you start scrolling through Zillow or booking showings, there are a few key steps that can save you time, money, and a lot of stress.

At Quality Home Mortgage in Cadiz, KY, we help first-time buyers across Western Kentucky prepare for a smooth, confident home purchase. Here’s our step-by-step first-time home buyer checklist — everything you should do before you start house hunting.

1. Review Your Credit Score

Before applying for a mortgage, check your credit score and review your credit report for errors. This will help you:

Know what loan programs you qualify for (FHA, USDA, VA, Conventional)
Understand your expected interest rate
Avoid surprises during the loan process

We recommend visiting AnnualCreditReport.com to get a free credit report from all three bureaus.

Tip: A credit score of 580+ is the threshold for most FHA loans. USDA and conventional loans typically require 640+.

2. Estimate Your Budget

Buying a home is exciting — but it needs to align with your budget. Consider:

Your monthly income
Existing debt and obligations
How much you can afford for a monthly mortgage payment
How much you’ve saved for a down payment and closing costs

Use a mortgage affordability calculator or contact us to get a realistic budget range based on your local market.

3. Get Pre-Approved for a Mortgage

Pre-approval is one of the most important steps in the home buying process. It shows real estate agents and sellers that you’re serious — and that a lender has already verified your ability to buy.

At Quality Home Mortgage, our pre-approval process is fast, free, and customized to your financial profile.

What Pre-Approval Involves:

A credit check
Income and employment verification
Review of assets and debts
Estimate of your loan amount and monthly payment

Result: You’ll get a pre-approval letter to use during your home search — a must in competitive markets.

4. Explore Loan Options

Not all mortgages are created equal — especially for first-time buyers. We’ll help you compare programs like:

FHA Loans: 3.5% down and flexible credit
USDA Loans: Zero down for eligible rural areas (like Cadiz and Trigg County)
VA Loans: 100% financing for military borrowers
Conventional Loans: As low as 3% down for first-time buyers

We’ll explain pros, cons, and eligibility — and match you with the best fit.

5. Ask About Down Payment Assistance

Think you need 10–20% down to buy a home? Think again. Many buyers qualify for local or state programs that help with:

Down payment costs
Closing costs
Prepaid taxes and insurance

In Kentucky, there are grants and forgivable second mortgages available based on income and location. We’ll help you apply if you qualify.

6. Create a Home Wish List

Once your finances are in order, it’s time to think about your needs vs. wants. Ask yourself:

How many bedrooms and bathrooms do I need?
Do I want a yard, garage, or specific layout?
What’s my ideal commute or school district?
Am I okay with a fixer-upper or do I want move-in ready?

This helps your realtor (and yourself) focus your search and avoid overwhelm.

7. Research Neighborhoods

Before booking tours, explore potential neighborhoods online or drive through them. Look for:

Nearby schools, parks, and amenities
Safety and traffic patterns
Local property taxes and average home prices
USDA eligibility if you're hoping for zero down

If you're buying in Cadiz, Hopkinsville, Princeton, or nearby areas, we can help you understand which neighborhoods align with your goals.

8. Choose the Right Real Estate Agent

Partner with a local, experienced agent who understands the area and has helped first-time buyers before. Your agent will help you:

Find homes that meet your criteria
Schedule showings
Negotiate offers
Coordinate with your mortgage lender (that’s us!)

Ask us — we’re happy to recommend agents we know and trust in the Cadiz area.

Bonus Tip – Avoid These First-Time Buyer Mistakes

Making large purchases (cars, furniture, etc.) before closing
Changing jobs or taking time off work during the process
Applying for new credit cards or loans
Skipping the pre-approval step
Relying on online estimates without professional guidance

FAQs – First-Time Home Buyer Prep

Do I need perfect credit to buy a home?

No! FHA loans allow credit scores as low as 580. We help many buyers get approved with less-than-perfect credit.

How long does pre-approval take?

At Quality Home Mortgage, we can often complete pre-approvals within 24 hours once we receive your documents.

Do I need 20% down?

Absolutely not. Many buyers put down 3%–5%, or even zero with USDA or VA loans.

Can I get help with closing costs?

Yes — we’ll help you explore assistance programs and negotiate seller-paid closing costs if possible.

Ready to Take the First Step?

Buying your first home doesn’t have to be overwhelming — especially when you work with local experts who care. At Quality Home Mortgage, we’re here to guide you every step of the way — from pre-approval to closing day.

63 Lakota Drive, Suite D, Cadiz, KY 42211
(270) 522-0700
qualityhomemortg@bellsouth.net
Mon–Fri: 10:00 AM – 4:00 PM

Contact us today to start your pre-approval and get one step closer to homeownership.

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Family of four smiling in front of a gray house, holding keys.