Homebuyer Loans
What it is
Proposition 37 would create a loan program to help Californians buy newly constructed homes. The measure would authorize $25 billion in bonds to fund low-cost mortgages for eligible homeowners. Under the plan, the state would cover up to 17% of the home’s cost, meaning a down payment could be as low as 3%.
What Your Vote Means
Voting YES
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.
Voting NO
The state would not be required to create a new homebuying assistance program.
Arguments
Supporters say
Proposition 37 would allow middle class Californians to afford to own property in the state without any cost to taxpayers.
Opponents say
Proposition 37 does not address why housing is unaffordable and the program could result in more residents going into debt.
Fiscal Impact
No direct state or local costs.
Campaign Finance
Supporting
$19,256,329
320 contributions · 12 contributors
- California Association of Realtors Issues Mobilization PAC (IMPAC)$8,002,500
- Building a Better California$6,000,000
- NATIONAL ASSOCIATION OF REALTORS$2,000,000
- National Association of Realtor$1,250,000
- United Brotherhood of Carpenters & Joiners of America$750,000
- North Coast States Regional Council of Carpenters Issues PAC$550,000
- Western States Regional Council of Carpenters Issues Committee$450,000
- Building a Stronger California, Sponsored by Western States Council of Carpenters$100,000
- California Democratic Party$52,304
- California Forever (CF) Operations, Inc.$50,000
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- United Brotherhood of Carpenters$50,000
- NPH Action Fund Political Issues Committee$1,525
Opposing
$0
0 contributions · 0 contributors
Last updated on October 19, 2026. Source: CA Secretary of State Power Search