California Proposition 37 — Creates Loan Program for Middle-Income Buyers of Qualified New Homes
Ballot measure · November 3, 2026
- What it does
- Authorizes up to $25 billion in bonds to offer eligible buyers fixed-rate mortgages for up to 17% of the purchase price of a “qualified new home” (new construction or first sale of converted nonresidential property, priced below about $1 million–$1.5 million, depending on county, adjusted annually). Borrowers must be California residents for one year, occupy the home, earn less than twice the area’s median income, and pay at least 3% down. Requires that bonds be repaid by homeowners’ mortgage payments, not the State. Summary of Legislative Analyst's estimate of net state and local government fiscal impact: No direct state or local costs.
- A YES vote means
- The state would create a new homebuying assistance program. The state could sell up to $25 billion in revenue bonds to fund the program. Bonds would be paid back by homeowners’ payments on their home loans.
- A NO vote means
- The state would not be required to create a new homebuying assistance program.
- Needed to pass
- A simple majority
- Put on the ballot by
- citizen initiative
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Also on California ballots
- Proposition 1 — Authorizes Bonds for Housing Affordability Programs
- Proposition 2 — Increases State’s Rainy Day Fund
- Proposition 3 — Provides Permanent Funding for Schools and Health Care by Extending Existing Tax on High Incomes
- Proposition 4 — Repeals Prohibition Against Public Funding of Election Campaigns
- Proposition 5 — Changes Recall Election Process for Statewide Officers
- Proposition 38 — Authorizes Bonds for Immunology Medical Research
- Proposition 39 — Prohibits Citizens from Voting Unless They Present Government-Issued Identification
- Proposition 40 — Imposes One-Time Tax on Certain Taxpayers
- Proposition 41 — Prohibits New State Taxes That Exclude Revenues from State Spending Limit. Requires Audits for New State Special Taxes
- Proposition 42 — Prohibits New State Personal Property Taxes and Certain Retroactive State Taxes
- Proposition 43 — Limits Voters’ Ability to Raise Revenues for Local Government Services
- Proposition 44 — Requires Community Health Clinics Spend 90% Of Revenue on Program Services
- Proposition 45 — Modifies Environmental Review for Certain Projects
Quick answers
- What does a YES vote on California Proposition 37 mean?
- The state would create a new homebuying assistance program. The state could sell up to $25 billion in revenue bonds to fund the program. Bonds would be paid back by homeowners’ payments on their home loans.
- What does a NO vote on California Proposition 37 mean?
- The state would not be required to create a new homebuying assistance program.
- How many votes does California Proposition 37 need to pass?
- A simple majority
- Should I vote yes or no on California Proposition 37?
- SpectrumVote doesn't endorse anyone or tell you how to vote. Read what a YES and a NO vote each do, and the official text, then decide based on what you want to happen.
- When is the vote?
- The general election is Tuesday, November 3, 2026. Early voting and mail-ballot deadlines vary by state; check your state or county election office.