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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 Jersey based on real HMDA transaction records.

Loan Details

Union County, NJ Benchmarks

FHA averages
Typical Property Value$606,492
Average Down Payment13.0%
Average Interest Rate6.240%
Effective Tax Rate2.03%
Median Tax Paid$10,001/yr
Tax Growth (Historical)%
Based on 1,422 regional loans totaling $724,870,000 (HMDA database).
$
%

$78,844 down · $527,648 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$1,026 / month

$

Annual premium

$

Per month

%

$224 / month

Estimated Monthly Payment

$4,702/mo

  • Principal & Interest$3,302
  • Property Tax$1,026
  • Home Insurance$150
  • FHA MIP$224
Amortization · Remaining Balance

Financed Loan Amount

$536,882

Total Interest

$651,904

Total of Payments

$1,188,786

*Includes financed FHA Upfront MIP of $9,234

Local Market Insights

Union County FHA Mortgage Overview

For Union County homebuyers, the 13.04% weighted average down payment on an FHA loan provides accessible entry, but note that mandatory Mortgage Insurance Premiums (MIP) are required for the life of the loan regardless of this equity stake. The 86.96% loan-to-value ratio confirms most buyers are putting down less than 15%, making FHA ideal for those with sub-620 credit. The effective property tax rate of 2.03% on a $606,491 average property value significantly impacts monthly affordability—expect substantial tax escrow payments. When evaluating an FHA loan with PMI and taxes in Union County, NJ, or reviewing Union County FHA loan limits, the high tax burden and permanent MIP are the primary cost drivers for standard owner-occupied purchases.

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.