First-Time Home Buyer
Buying your first home is the biggest financial decision you will ever make. Use Lisa Copeland's budgeting tool to see exactly what you can afford — and how to get there.
Step 1
Start with your income. Lenders use your gross (before-tax) income to determine how much home you can afford.
The 28/36 rule: Lenders typically want your housing costs to stay under 28% of your gross income and your total debt payments under 36%.
Step 2
Fill in your actual monthly expenses to calculate your debt-to-income (DTI) ratio — the key number lenders use to evaluate you.
Enter your expenses to see your DTI
Lenders want your DTI below 43%
Step 3
See how much you need for a down payment and how long it will take you to save it.
Savings still needed after current savings:
$0
Savings Timeline
Months to save: 0
Enter your details to calculate
Step 4
Your down payment is just the beginning. These are the costs many first-time buyers overlook — and the ones that can derail a budget if you do not plan for them.
$5,000 - $15,000 (2-5% of home price)
$300 - $500
$300 - $500
$100 - $300/month
Austin: 1.5-2.05% · Round Rock: 1.6-2.1% · Georgetown: 1.3-1.8% · Belton: 1.6-2.2% · Temple: ~1.76%
County + school + city combined. Varies by exact location.
$50 - $500/month (varies by community)
$100 - $300/month
Budget 1% of home value per year
$1,000 - $5,000
$2,000 - $10,000
3-6 months of expenses
Adjust these estimates based on your home price to see your total out-of-pocket beyond the down payment.
Adjust the home price in Step 3 to see how these estimates change.
Step 5
Your credit score determines not just whether you qualify, but how much you will pay over the life of your loan.
Loan programs you likely qualify for
Conventional, FHA, VA
Estimated interest rate
6.5%
Estimated monthly payment
$0
Total interest over 30 years
$0
What if your rate was 0.5% higher?
$0 more over 30 years
Step 6
Here is your complete financial picture combined into one dashboard.
Estimated home you can afford
$0
Your Readiness Score
Enter your details
Complete Steps 1-5 to see your readiness score
Step 7
Based on your results, here are your next steps to get home-ready.
Start by checking your credit report for errors. Dispute any inaccuracies before applying for a mortgage.
Automate a monthly transfer of $500 or more to your down payment savings account. Pay yourself first.
Focus on paying down credit cards and high-interest debt to improve your DTI ratio before applying for a mortgage.
You are on the right track! Call Lisa at (512) 944-5472 — she will personally guide you through the entire home buying process.
Get Started
Fill out Lisa's 5-question qualification form and she will personally guide you through the home buying process.
Whether you are buying, selling, investing, or exploring options, the best negotiator in Central Texas is ready to put the power of a 900+ Agent real estate organization operating across 29 countries that has closed more than 5 billion in sales over the last six years to work for you.
Office
Lisa Copeland · eXp Realty
The Copeland Building
210 E Central Ave
Belton, TX 76513
License
TX Salesperson #733507
Lisa Copeland's Team
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