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, Iowa based on real HMDA transaction records.

Loan Details

US County (Smart Autofill)

Loan Type

Union County, IA Benchmarks

FHA averages

Typical Property Value$174,250

Average Down Payment8.6%

Average Interest Rate6.610%

Effective Tax Rate1.48%

Median Tax Paid$2,197/yr

Tax Growth (Historical)+1.1%

Based on 40 regional loans totaling $5,920,000 (HMDA database).

Home Price

Down Payment

$14,986 down · $159,265 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

$215 / month

Home Insurance

Annual premium

HOA Dues

Per month

PMI Rate

$68 / month

Estimated Monthly Payment

$1,468/mo

Principal & Interest$1,036
Property Tax$215
Home Insurance$150
FHA MIP$68

Amortization · Remaining Balance

Financed Loan Amount

$162,052

Total Interest

$210,918

Total of Payments

$372,970

*Includes financed FHA Upfront MIP of $2,787

Local Market Insights

Union County FHA Mortgage Overview

For Union County homebuyers, the 8.55% average down payment on an FHA loan provides accessible entry, but note that mandatory Mortgage Insurance Premiums (MIP) apply for the loan’s life due to the 91.45% loan-to-value ratio. This structure is ideal for buyers with sub-620 credit scores seeking primary residences. The 1.48% effective property tax rate, with a 1.1% inflation-adjusted increase, adds roughly $215 annually to monthly costs. Use an FHA loan calculator with PMI and taxes in Union County, IA to see how these factors shape true affordability. Understanding Union County FHA loan limits and tax impacts ensures informed budgeting.

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.