California Proposition 37: Creates Loan Program for Middle-Income Buyers of Qualified New Homes
On the November 3, 2026 ballot. Ask the guide what a yes vote and a no vote would each do, in the official wording.
The question on the ballot
Authorizes $25 billion in bonds to offer eligible buyers fixed-rate mortgages for up to 17% of purchase price of a newly constructed home priced below about $1.5 million. Borrowers must be California residents, occupy the home, meet income limits, and pay at least 3% down. Bonds repaid by mortgage payments, not State.
Where, when and how to vote
The guide doesn't answer these. The current, official answers are with California Secretary of State.
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