If you submitted a Screening Questionnaire for the Stonesteps Cove Affordable Home, we are working with the Seller to review these Questionnaires in the order they were received to confirm eligibility and ultimately narrow them down to a smaller group for additional screening.  

 

If you are chosen to be included in the smaller group for additional screening you will be contacted directly by phone or email after the end of the Application Period which concludes January 30, 2026.  We have received 710 Screening Questionnaires for this home.   Thank you for your patience as we manage the very high demand for this home.  

Unit 6 - Stonesteps Cove

N Vulcan Avenue

Encinitas, CA  92024

3 bedrooms, 2.5 baths plus Teen Room/Loft

Fenced in outside yard space

2 car garage

1531 sq ft

Year Built 2025

Subject Property is a 2 story detached Condominium in the brand new community of Stonesteps Cove.  

Qualified purchasers must satisfy following:

Minimum of 3 persons in household.  If you have less than 3 people in your household you are not eligible. ***It is not the intent of this program to combine separate families into one household for the purpose of qualifying. Any homebuyer application submitted under the auspices of this intent, will forfeit their eligibility. All persons listed as household members on the homebuyer application should have every intent to live in the new home as their primary residence. Unrelated applicants must show at least one full year of joint residency. Subleasing of the home is not permitted. *** 

This must be your primary residence and you can not own any other real property.  

Total household annual income limits (includes income of all persons 18 yrs of older): 3 persons-$74,450 max,  4 persons-$82,700 max,  5 persons-$89,350 max etc according to the State of California Housing and Community Development 2025 income and affordability housing cost schedule.  This schedule is attached to this email.  Total income must match tax returns. 

Purchase to be made with a 30 year fixed loan with a 5% down payment plus closing costs estimated around $10,000-$11,000 total cash required by Buyer at closing.  Closing costs include a one-time capital contribution of $708 to the Stonesteps Cove HOA.   Purchaser must get pre-approved for the above loan.  Purchaser may use their own lender or Seller can provide lender contact.  After purchase of the Affordable Home the Qualified Household will be responsible for ongoing expenses including but not limited to…Home Owner Assoc Fees ($354 per month), homeowner insurance policy for a detached site-condominium, all general maintenance and repair of interior and exterior of home, utility costs including water, gas, electric, trash, cable/internet etc.  

Applicants must be a US citizen or permanent resident alien. Applicants for a permanent resident alien status must provide documentation, i.e. permanent resident alien card, passport, and/or INS documents.

Application period ends Jan 30th, 2026

Candidate screenings  Jan 30-Feb 5, 2026

Builder/Seller selection date Feb 5, 2026

City verification period Feb 6-20, 2026