YES ON PRop 37
Prop 37 lowers the cost of buying a home, making homeownership more affordable for Californians, with zero cost and zero risk to taxpayers.
ABOUT
What is Proposition 37?
Proposition 37 tackles one of the biggest barriers to homeownership by helping Californians purchase newly built homes with just 3% down, giving hardworking Californians a fair shot at homeownership — with zero cost and zero risk to taxpayers.
BY THE NUMBERS
A plan that delivers
The California Middle-Class Homeownership Act is designed to address both sides of the housing crisis — access and supply.
It expands homeownership opportunities for working families while driving the construction of new housing across the state, all without relying on taxpayer funding.
Homeownership Access Funding
Minimum Down Payment for Buyers
New Homes Expected to Be Built
Cost to Taxpayers
The Problem is Simple
For many Californians, the biggest barrier to homeownership isn’t the monthly payment — it’s the upfront cost.
A traditional 20% down payment on a typical California home can exceed $160,000, putting ownership out of reach for most working families.
This measure lowers that barrier while helping build the new homes California needs.
Problem
The Down Payment Barrier
For many Californians, the biggest barrier to buying a home isn’t the monthly payment. It’s the down payment. Proposition 37 is designed to help working families who earn too much for downpayment assistance programs but still cannot save enough to buy a home.
Proposition 37 provides fixed-rate financing for up to 17% of a new home’s purchase price, reducing the required down payment to just 3%.
Based on the median price California State home: $901,450
$153,246 less upfront for the same home
Solution
What Proposition 37 Means for California
For too many Californians, the path to homeownership is out of reach, not because they cannot afford a home, but because they cannot afford to get in the door. Proposition 37 creates a better starting point.
A Fair Shot at Homeownership
Proposition 37 helps people to affordably live, work, raise a family, and stay in California.
Makes Housing More Affordable
Proposition 37 will help by increasing housing supply to improve housing affordability.
Proposition 37 Comes at No Cost to Taxpayers
Funded entirely by private bond investors & home borrowers.
Proposition 37 has Strict Accountability
Every loan must be repaid in full. Annual audits ensure transparency.
Proposition 37 is Only for Californians
Qualified borrowers must be California residents & live in the home.
The State’s Independent Legislative Analyst Says Proposition 37 Has:
“No Direct State or Local Costs”
JOIN
Help Expand Middle-Class Homeownership in California
Join Proposition 37’s growing coalition to create more housing, expand opportunity, and support working families across the state.
Supporters
See what supporters are saying about Proposition 37
“Voters now have the chance to unleash a wave of new home construction across our state and make the dream of homeownership a reality for more middle-class Californians with Proposition 37.”
Bob Hertzberg
Former California Assembly Speaker
and former Senate Majority Leader
“Our state and our economy are stronger when we have more middle-class homeowners. Best of all, Proposition 37 won’t cost taxpayers a dime.”
Malia M. Cohen
California State Controller
“We need big, innovative solutions to make housing more affordable for more people, Proposition 37 will help do that by generating more capital for housing and assisting the middle class without adding to the state’s general fund obligations.”
Fiona Ma
California State Treasurer
“I grew up in a California where working families could afford to buy a home. It’s time to build our way out of this homeless and housing affordability crisis, Affordable homes for working families builds their future and builds California’s future – let’s get to work.”
Doug McCarron
Carpenters and Joiners of America General President
“I’ve seen a lot of good ideas passed through the Legislature and City Hall to tackle our affordability crisis, but Proposition 37 is the most comprehensive approach I’ve seen to actually get more housing built for the middle class, that’s why Proposition 37 has my full backing.”
Darrell Steinberg
Former Senate President pro Tempore
and former Mayor of Sacramento
“Every day, we hear from middle-class Californians who simply want a fair shot at homeownership for themselves and their families – but affordability continues to stand in the way, by providing down payment assistance loans – at no cost to taxpayers – Proposition 37 tackles one of the biggest barriers and brings the dream of homeownership closer to reality.”
Tamara Suminski
CALIFORNIA ASSOCIATION OF REALTORS® President
“My first job was in construction and my dad was a union construction worker, so I know the value of building. When we build more housing, we also help Californians build more wealth and build a better life. That’s what Proposition 37 is all about.”
Xavier Becerra
Gubernatorial Candidate
“I’m fighting to make California an affordable place to live, work, and raise a family, and that starts with housing. As Mayor of San Jose, I’ve worked day-in and day-out to get more housing built quickly and affordably, and we need the same push at the state level. The first rung on the housing ladder is often the most difficult to climb, and Proposition 37 gives middle-class families a real boost.”
Matt Mahan
Mayor of San Jose
“One of the biggest worries I hear from people across California, including my own kids, is that they’ll never be able to afford to buy their own home. Proposition 37 will put homeownership within reach for many more Californians by reducing one of the biggest barriers required to buy a home — the downpayment. Helping working families build generational wealth, driving down housing costs, and growing our economy is at the heart of why I’m running for Governor. I urge Californians to join me in voting YES on Proposition 37.”
Katie Porter
Former United States Representative
“As Governor, one of my top priorities is to build more housing, and that’s exactly what Proposition 37 does. It’s time we start opening doors for the people who don’t come from money, power, and influence.”
Tony Thurmond
California State Superintendent of Public Instruction
“Proposition 37 is a key part of my plan for an affordable California and I’m proud to support it. Together, we can restore the path to the middle class for a generation of California families and build nearly 200,000 new homes without any cost to taxpayers. Vote YES on Proposition 37 this November.”
ANTONIO VILLARAIGOSA
Former Speaker of the California State Assembly and Mayor of Los Angeles
NEWS
LATEST NEWS
Schaaf: Prop. 37 makes homeownership a reality
Everyone in the Bay Area already knows this story. It’s reported globally and lived locally: a region so expensive that owning a home here has quietly become a fantasy for the people who keep it running.
The Six November Ballot Measures That Would Impact Housing and Development the Most
Prop. 37 was placed on the ballot through a signature-gathering campaign. It would authorize $25 billion in state revenue bonds to encourage new home construction and increase middle-class homeownership through second mortgages.
Three ballot measures on housing, medical research but only one no-brainer
SACRAMENTO — Three state bond measures are on California’s November ballot. You probably haven’t paid much attention to them. So here’s my read on these big-ticket proposals.
One is a no-brainer “yes.” It would help middle-class Californians buy a new home by allowing them to borrow most of the down payment. And it wouldn’t cost taxpayers a dime. That’s Proposition 37.