Thomas Creek
Modern townhomes in Springville with quality construction and practical floor plans. Near Art City Main Street shops and Hobble Creek recreation.
Location
Map shows approximate community location in Springville, Utah.
How we calculated this
Understanding Your Payment Estimate
Conventional (20% down)
The standard option. No private mortgage insurance (PMI) required because you're putting 20% down. Lowest monthly payment but highest cash upfront.
Conventional (5% down)
Lower cash upfront, but PMI is added (~0.5% of loan/yr) until you reach 20% equity. PMI typically drops off automatically once you hit 78% loan-to-value.
FHA (3.5% down)
Government-backed loan with lower credit requirements. Includes upfront MIP (1.75% of loan, usually rolled in) plus annual MIP (~0.55%/yr) for the life of the loan on most terms.
VA (0% down)
Available to veterans and active military. No down payment, no PMI. There is a one-time VA funding fee (typically 2.15% for first use) which is usually rolled into the loan.
Which loan is right for you? It depends on your situation. A lower down payment keeps more cash in your pocket for upgrades, moving costs, or reserves — but it increases the monthly payment. We help you compare all options side by side so you can make the best decision for your family.
Talk through your optionsAbout the Builder
J. Thomas Homes
Utah County builder offering townhomes and single-family homes in Springville. Focus on quality construction and practical floor plans for families and first-time buyers.
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How We Help With Thomas Creek
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