Mortgage & Financing
Understand your purchasing power. Estimate monthly payments, learn about loan options, and get the clarity you need to move forward with confidence.
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Use this calculator to estimate your monthly mortgage payment. Adjust the inputs to match your situation and see how different scenarios affect your budget.
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This is an estimate for informational purposes only. Actual rates and payments vary based on lender, credit profile, and market conditions.
Get Pre-Approved With LisaFinancing Guide
Choosing the right mortgage is one of the most important financial decisions you will make. Here is what you need to know about the most common loan types and how they work.
The most common type of mortgage. Conventional loans are not insured by the government and typically require a down payment of 3% to 20%. They offer competitive interest rates for borrowers with good credit. Private mortgage insurance (PMI) is required for down payments under 20% and can be removed once you reach 20% equity.
Best for: Borrowers with steady income, good credit (620+), and a down payment of at least 3% to 5%.
Insured by the Federal Housing Administration, FHA loans are designed for first-time buyers and those with less-than-perfect credit. They require a down payment as low as 3.5% and allow credit scores as low as 580. FHA loans require both an upfront mortgage insurance premium (UFMIP) and annual MIP for the life of the loan.
Best for: First-time buyers, borrowers with credit scores 580-620, and those with limited down payment savings.
A powerful benefit for military service members, veterans, and eligible surviving spouses. VA loans are guaranteed by the Department of Veterans Affairs and offer zero down payment, no private mortgage insurance, and competitive interest rates. Lisa is a Certified Military Relocation Professional with deep experience guiding military families through VA loans.
Best for: Active duty military, veterans, National Guard, Reserves, and eligible surviving spouses.
For home prices that exceed the conforming loan limits set by Fannie Mae and Freddie Mac ($766,550 in most areas for 2024). Jumbo loans require higher credit scores (typically 680+), larger down payments (10% to 30%), and have stricter debt-to-income requirements. They are essential for luxury home purchases in the $300K to $3M+ range.
Best for: Luxury home buyers, high-income borrowers, and those purchasing homes above conforming loan limits.
Down Payment
Your down payment is one of the biggest factors in your home buying journey. The right amount depends on your financial situation, goals, and the type of loan you choose. Here is what to consider at each level.
Available with conventional and FHA loans. Best for first-time buyers. You will need mortgage insurance, but it gets you into homeownership sooner.
A strong middle ground that lowers your monthly payment and may qualify you for better rates. Still requires PMI on a conventional loan.
The gold standard. Eliminates the need for private mortgage insurance, lowers your monthly payment, and strengthens your offer in competitive markets.
Common for jumbo loans and luxury purchases. Maximizes equity from day one and gives you the strongest negotiating position with sellers.
Process
Meet with a lender, review your credit and finances, and get pre-approved. This tells you exactly how much home you can afford.
With your budget clear, Lisa will help you find homes that match your criteria, schedule showings, and guide you through each property.
Lisa helps you craft a strong offer. Once accepted, the lender processes your full application through underwriting and appraisal.
Sign your final documents, fund your down payment and closing costs, and receive the keys to your new home. Welcome home.
Need Personalized Guidance?
A calculator gives you numbers. Lisa gives you a strategy. As a financial expert who knows real estate inside and out, she can help you navigate the numbers and find the financing solution that fits your unique goals.
Whether you are buying, selling, investing, or exploring options, the best negotiator in Central Texas is ready to put $5B+ in career experience to work for you.
Office
Lisa Copeland
210 E. Central
Belton, TX 76513
License
TX Salesperson #733507
Lisa Copeland's Team
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