Union County Conventional Mortgage Calculator

For a conventional loan in Union County, the 23.29% down payment on an average property value of $230,254 indicates strong buyer equity. This higher down payment typically allows borrowers to avoid Private Mortgage Insurance (PMI), as it exceeds the 20% threshold. With a median loan-to-value (LTV) ratio of 76.71%, homeowners already have significant equity, reducing risk. The effective property tax rate of 1.48%, coupled with a recent 1.1% inflation-adjusted tax increase, adds roughly $340 annually to monthly costs, impacting true affordability. This data, reflecting 100% primary residence purchases, shows a market where conventional financing with solid down payments is the norm, helping buyers skip PMI and build equity faster.