Frequently Asked Questions

What is the price range of these affordable homes?
Estimated Prices:
$200,000 - 250,000 for 1 or 2 bedroom floor plans
$250,000 - 300,000 for 3 or 4 bedroom floor plans

How large of a down payment do I need?
A predetermined amount has not been set. All down payments will be calculated by the lender and will vary by a buyer's income, credit and household size.

Are there any restrictions to selling after purchasing?
Yes, if you choose to sell within 15 years from date of purchase, city determines new maximum sale price using low-income criteria & area median income. Selling after 15 years requires repayment of City of Carlsbad loan and contingent interest.

Who keeps the profits when a homeowner sells?
Profit amount is not predetermined. Appreciation may change when selling after 15 years at full market value. Prior to selling, please call 760-533-2540 for a detailed estimate on your net proceeds.

Is this neighborhood eligible for federal loan programs?
A property/neighborhood may be VA or FHA approved, but be advised that program guidelines only allow up to 35% of monthly income to cover all monthly housing related fees (e.g. mortgage, HOA, property tax, etc.).

Will any new affordable homes be built in the future?
Yes, as new construction takes place, all builder information will be updated on this website.

Do I need to be a first time home buyer?
No, but there are certain downpayment assistance programs, as well as loan programs, that do require first time home buyer status.

Can a single person purchase a 3 or 4 bedroom home?
Yes, program guidelines only focus on total household income.

What if I get a raise in a couple months and no longer meet the income restrictions?
You only need to meet the income restrictions through the close of escrow. After you get your keys there is no longer any restrictions on your household income.

May I move out and rent my home out after purchasing?
No, program guidelines require owner occupancy.

Do I need to be a City of Carlsbad resident to qualify within this program?
No, you do not need to currently reside in Carlsbad, but program guidelines require owner occupancy during ownership.

May I sell my home at any time?
Yes, but depending on the date of the sale, restrictions may apply.

I currently own another property, will I qualify within this program?
No, program guidelines require that you are not on title of any other residential properties at the time of purchase.

May I have a co-signer for my loan?
No, program guidelines specify that all person(s) on title must occupy the property and meet the income restrictions at the time of purchase.

How large of a "gift" may I receive from someone?
Buyers may receive an unlimited "gift" of cash towards their purchase.

May I purchase with all cash?
Yes, all cash buyers will still need to obtain City of Carlsbad approval and show that they meet the income requirements and program guidelines to purchase. In addition, the city does not have any liquidity test or ratio towards current cash and/or invested funds. Please call 760-533-2540 for additional details on pre-qualifying as a cash buyer.

When did Carlsbad’s affordable housing program begin?
The City of Carlsbad’s affordable housing program began in 1993, when the Carlsbad City Council adopted the Inclusionary Housing Ordinance.

What is the program’s intent?
The Ordinance states that not less than 15% of all residential units in any master plan, specific plan or residential subdivision must be set aside and be affordable to lower-income households. The program also ensures that lower- income housing is not centralized in an isolated area, but distributed throughout the community.