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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, New Mexico based on real HMDA transaction records.

Loan Details

Union County, NM Benchmarks

FHA averages
Typical Property Value$135,000
Average Down Payment9.4%
Average Interest Rate6.625%
Effective Tax Rate0.30%
Median Tax Paid$859/yr
Tax Growth (Historical)+7.4%
Based on 3 regional loans totaling $375,000 (HMDA database).
$
%

$12,690 down · $122,310 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$34 / month

$

Annual premium

$

Per month

%

$52 / month

Estimated Monthly Payment

$1,033/mo

  • Principal & Interest$797
  • Property Tax$34
  • Home Insurance$150
  • FHA MIP$52
Amortization · Remaining Balance

Financed Loan Amount

$124,450

Total Interest

$162,571

Total of Payments

$287,021

*Includes financed FHA Upfront MIP of $2,140

Local Market Insights

Union County FHA Mortgage Overview

For Union County homebuyers using an FHA loan, the 9.41% down payment on a $135,000 property is lower than the typical 20%, offering accessible entry. However, with a 90.59% loan-to-value ratio, mandatory Mortgage Insurance Premiums (MIP) apply for the loan’s life, ideal for those with sub-620 credit. The effective property tax rate of 0.30% is low, but the 7.4% inflation-adjusted tax increase will raise monthly costs slightly. When evaluating an FHA loan down payment in Union County, New Mexico, remember MIP is permanent, unlike conventional loans. For a full breakdown of Union County FHA loan limits and property taxes, our tool factors these fixed costs into your true monthly affordability for owner-occupied homes.

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.