California · Bond question · put on the ballot by petition · Nov 3, 2026
Proposition 37
Creates Loan Program for Middle-Income Buyers of Qualified New Homes
What it says
Authorizes up to $25 billion in revenue bonds to offer eligible buyers fixed-rate mortgages covering 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 median income, and pay at least 3% down. Requires bonds be repaid by homeowners' mortgage payments, not the state. No direct state or local costs.
This is a summary from the state's own official materials, shown as published. Read the full text at the source, and check your state's election office for the final word on what is on your ballot. Official source ↗(opens in a new tab) Download the official file ↗(opens in a new tab)
Other measures in California
- 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 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 38 · Authorizes Bonds for Immunology Medical Research
- Proposition 44 · Requires Community Health Clinics to Spend 90% of Revenue on Program Services
- Proposition 45 · Modifies Environmental Review for Certain Projects
- 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