Union County FHA Loan Calculator

Adjust the sliders to model your loan in real time. We have prefilled this page with local benchmark averages for Union County, Illinois based on real HMDA transaction records.

Loan Details

US County (Smart Autofill)

Loan Type

Union County, IL Benchmarks

FHA averages

Typical Property Value$178,333

Average Down Payment11.8%

Average Interest Rate6.357%

Effective Tax Rate1.15%

Median Tax Paid$1,712/yr

Tax Growth (Historical)-10.3%

Based on 33 regional loans totaling $5,075,000 (HMDA database).

Home Price

Down Payment

$21,043 down · $157,290 financed

Interest Rate

Loan Term

yrs

Extra Monthly Principal

Paid directly to principal

Mortgage Start Date

Payoff estimated June 2056

Local & Recurring Costs

Property Tax Rate

$171 / month

Home Insurance

Annual premium

HOA Dues

Per month

PMI Rate

$67 / month

Estimated Monthly Payment

$1,384/mo

Principal & Interest$997
Property Tax$171
Home Insurance$150
FHA MIP$67

Amortization · Remaining Balance

Financed Loan Amount

$160,042

Total Interest

$198,837

Total of Payments

$358,879

*Includes financed FHA Upfront MIP of $2,753

Local Market Insights

Union County FHA Mortgage Overview

For Union County homebuyers, the 11.75% average down payment on an FHA loan provides accessible entry despite requiring mandatory Mortgage Insurance Premiums (MIP) for the loan’s life. The 88.25% Loan-to-Value ratio confirms this, making it ideal for those with sub-620 credit scores. With an effective property tax rate of 1.15% and a recent inflation-adjusted tax decrease of -10.3%, monthly affordability improves. This data, reflecting 100% owner-occupied purchases, helps you assess FHA loan limits and property taxes when planning your Union County FHA mortgage with PMI and taxes.

Disclaimer: This calculator provides estimates for educational purposes only and does not constitute a loan offer or financial advice. Actual rates, taxes, insurance, and fees will vary.