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Mortgage Refinance Calculator for Union, Illinois

Free mortgage refinance calculator for residents of Union, Illinois (ZIP 60180). Calculate your new monthly payment, break-even point, and lifetime interest savings from refinancing. Include or exclude any closing cost items and choose which to roll into the loan.

Local Time

3:56 AM

Chicago

Weather

Unavailable

Median Income

$81,205

per year

Zillow ZHVI

$402,341

Feb 2026

↑ 7.1% YoY

Pre-filled for Mchenry County, IL

Median Home Value: $402,341

Current balance pre-filled at 80% LTV ($322,000). Adjust below to match your actual balance.

Est. Monthly Savings

$117.30/mo

Based on local market data. A 1% rate reduction on this balance saves approximately $268.33/month in interest.

Current Loan

Principal + interest only

New Loan Terms

Extra cash from equity (optional)

Closing Costs

Check each item to include it. For rollable items, choose whether to pay at closing or roll into the loan.

Loan Origination Fee

Lender's fee for processing the loan (0.5–1% of loan)

$
Discount Points

Prepaid interest to lower your rate (1 point = 1% of loan)

$
Appraisal Fee

Required to determine current home value

$
Title Search & Insurance

Verifies ownership and protects against title defects

$
Attorney / Settlement Fee

Closing agent or attorney fee

$
Recording Fees

County fee to record the new deed/mortgage

$
Credit Report FeePaid at closing

Lender's cost to pull your credit (usually paid upfront)

$
Flood CertificationPaid at closing

Determines if property is in a flood zone

$
Prepaid Interest (per diem)Paid at closing

Interest from closing date to first payment; enter estimated days × daily rate

$
Escrow Account SetupPaid at closing

Initial deposit for taxes & insurance escrow

$

New Monthly Payment

$1,792.70

Monthly Savings

$117.30

$1,408/year

Break-Even

4 mo

≈ 0.3 years

New Loan Amount

$283,625

Incl. $3,625 rolled costs

Closing Cost Summary

Total Costs

$4,075

Rolled Into Loan

$3,625

Paid at Closing

$450

Lifetime Interest Comparison

Current loan (remaining):$293,000
New loan (full term):$361,748
The refinance costs $68,748 more in lifetime interest (longer term). Consider a shorter term.

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Using This Mortgage Refinance Calculator in Union, Illinois

Residents of Union, Illinois (ZIP 60180) have a median household income of $81,205 per year and a median home value of $267,792. Union is located in Mchenry County. Use this mortgage refinance calculator to make informed financial decisions based on local economic conditions.

Local Housing Market: Union, Illinois

Housing AffordabilityModerately Affordable

Price-to-income ratio: 5.0x — the median home costs 5.0 times the annual household income.

Zillow ZHVI

$402,341

Feb 2026

↑ 7.1%

Median Income

$81,205/yr

Max Payment (28%)

$1,895/mo

Max Total Debt (36%)

$2,436/mo

In Union, Illinois, the median household earns $81,205 per year ($6,767/month). Following the 28/36 rule, a median-income household can comfortably afford a monthly housing payment of up to $1,895 and total monthly debt payments of up to $2,436. Union is part of Mchenry County. Over the past 12 months (Feb 2025 – Feb 2026), home values in Union have risen by 7.1% (+$26,791), according to Zillow ZHVI data. These benchmarks can help you determine a realistic home price range before using the calculator above.

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