Smart Start

What is the Affordable For-Sale Housing Program?

Golden Ridge includes a limited number of affordable for-sale homes designed to expand homeownership opportunities in San Diego.  These homes are sold below market value and are subject to income limits, occupancy requirements, and approval through the San Diego Housing Commission and an approved lender.

When you purchase one of these homes, the difference between what you pay and the home's market value is set up as a second loan through the SDHC. You won't need to repay that loan for 45 to 55 years. During that time, if you sell, the home must go to another income-qualified buyer at an SDHC-approved price.

For the right buyer, this is one of the most accessible paths to homeownership in San Diego.

Who can apply?

To be considered for an Affordable For-Sale home at Golden Ridge, here's what the program generally looks for:

• Buyer must meet the 100% AMI (Area Median Income) limit for the applicable household size and home type.

• Buyer must contribute at least 3% of the purchase price from eligible funds and have funds for closing costs.

• Buyer must generally have a minimum 640 middle credit score and acceptable recent credit history.

• Buyer must generally have a two-year recent and continuous work history.

• Debt-to-income ratio cannot exceed 45%.

• Buyer must be a first-time homebuyer, occupy the home as a primary residence, and live and work in San Diego County for at least two years.

• No bankruptcy, foreclosure, deed in lieu, or short sale within the prior seven years.

• Household size must match the home size: 1-bedroom for 1 to 2 people, 2-bedroom for 2 to 4 people, and 3-bedroom for 4 or more people.

Note: SDHC's First-Time Homebuyer assistance programs cannot be combined with this program.

What does the process look like?

1. Buyer submits an interest form

2. Sales team conducts a pre-screen and shares program overview

3. Buyer is referred to an approved lender for underwriting

4. Buyer package is submitted to SDHC for eligibility review

5. SDHC issues pre-approval if the buyer qualifies

6. Buyer enters into contract

Who reviews and approves my application?

Two parties must sign off: an approved lender that works with deed-restricted homes, and the San Diego Housing Commission, which oversees the Affordable For-Sale Housing Program.

What is the pricing?

Current pricing for Affordable For-Sale homes at Golden Ridge starts at:

• 1-Bedroom: $393,948 (one available)

• 2-Bedroom: $444,090 (one available)

• 3-Bedroom: $499,395 (two available)

Note: Priced for households earning up to 100% AMI (Area Median Income), subject to household size, program rules, lender underwriting, and SDHC approval.

What is the 100% Area Median Income limit?

Household Size

1 Person

2 People

3 People

4 People

5 People

6 People

7 People

8 People

Ready to find out if you qualify?

Fill out the form below and if you qualify, a member of our sales team will reach out to walk you through the next steps.