Affordable Homes for Sale in Thornton, CO

Affordable homes in Thornton: the numbers this week

Cheap homes in Thornton split between condos with dues and small houses without: 81 percent of the 130 listings under $400,000 carry an HOA, median $380 a month, so the same price buys two different payments. The grid above is every one of them, updated daily; the charts below show where they are, what they cost a month and which programs bring the cash to about $1,000.

The full payment on the median affordable Thornton home is about $2,835 a month, which a lender approves at about $113,000 a year of income at 30 percent, or $76,000 at 45 percent. Under $300,000 it is a condo or an older two-bedroom house; $300,000 to $400,000 is where the three-bedroom houses and the newer townhomes with a garage start, about 1,176 square feet at the median.

How the price comes down in Thornton

• CHFA assistance: 3 percent grant or 4 percent second mortgage, 620 score, income under $178,920, repeat buyers welcome. The program and the $1,000 cash-to-close math.
• metroDPA: Adams County is a member; 620 score, no first-time requirement.
• Thornton homeownership assistance: the city's own down payment program for buyers under the income limit, when funded.
• HUD homes at $100 down: Thornton HUD homes, when one is listed.
• Rent-to-own, priced honestly: Thornton rent-to-own homes and why assistance beats it.

Related Thornton searches

Thornton starter homes · Thornton condos · Thornton townhomes · Thornton 2-bedroom homes · Thornton 3-bedroom homes · Thornton fixer-uppers · Thornton foreclosures · Thornton homes that pass FHA · All Thornton homes for sale. Nearby: Westminster (76 under $400,000), Northglenn (11 under $400,000), Commerce City (56 under $400,000), Brighton (52 under $400,000). Statewide: affordable homes in Colorado, the Denver affordable homes guide.

Questions people ask about affordable homes in Thornton

Where are the cheapest homes for sale in Thornton?

In south Thornton and the Federal Heights line, Thornton Valley and Eastlake and Hunters Glen and Cherrywood. ZIP 80260 alone holds 45 of the 130 Thornton homes under $400,000 this week, and the top three ZIPs hold 86 percent. The map above shows every one; the ZIP pages start with 80260.

What does $300,000 buy in Thornton today?

Under $300,000 it is a condo or an older two-bedroom house; $300,000 to $400,000 is where the three-bedroom houses and the newer townhomes with a garage start, about 1,176 square feet at the median. 56 Thornton homes are listed under $300,000 this week and 50 under $250,000.

How much is the monthly payment on an affordable Thornton home?

About $2,835 on the $319,000 median with an FHA loan at 7 percent and 3.5 percent down: $2,048 principal and interest, $380 HOA, $160 taxes, $141 mortgage insurance, $106 insurance. A lender approves that payment at about $113,000 a year of income. Run your own numbers on can I afford a home now.

How much cash do I need to buy a cheap home in Thornton?

About $1,000 with CHFA assistance: the 3 percent grant covers the FHA down payment ($11,165 on the median), the seller pays closing costs through the offer, and the earnest money comes back at closing. Without assistance it is about $16,665. The worked example is on $1,000 cash to close; the rules on CHFA down payment assistance.

Which down payment programs work in Thornton?

CHFA statewide (620 score, income under $178,920, 3 percent grant or 4 percent second mortgage). metroDPA: Adams County is a member; 620 score, no first-time requirement. Thornton homeownership assistance: the city's own down payment program for buyers under the income limit, when funded. Every program and its catch is on affordable homes in Colorado.

Are there HUD homes or foreclosures in Thornton?

HUD homes sell as-is at HUD's appraised price with a $100 down option on an FHA loan; Colorado has 26 this week and the list changes every Monday on Thornton HUD homes. Bank-owned and fixer listings are on Thornton foreclosures and Thornton fixer-uppers.

Is rent-to-own cheaper in Thornton?

No. A lease-option on a $320,000 home takes about $10,000 up front plus a rent premium, with no title until the end, where CHFA puts you on title now for about $1,000 at a 620 score. The side-by-side is on Thornton rent-to-own homes.