Sacramento, CA – Leading education advocacy groups have joined together in support of Proposition 37, including the California Teachers Association and the California Federation of Teachers.

Proposition 37 unlocks homeownership for more middle-class families by making it possible to buy a new home with just 3% down, while spurring a wave of new home construction across the state – all at no cost to taxpayers.

“For many teachers in California, the biggest barrier to buying a home isn’t the monthly payment. It’s the down payment,” said David Goldberg, President, California Teachers Association. “Prop 37 is designed for the teachers and other working families, so that they too can own a home and live where they work.

Prop 37 is a state revenue bond, and according to the state’s non-partisan Legislative Analyst’s Office and the California Department of Finance,  there is no cost to taxpayers according to the Legislative Analyst’s Office and Department of Finance.

“Alongside their teacher colleagues, classified workers would benefit from increased access to home ownership. Bus drivers, secretaries, front office school workers – those are the people that help keep California’s kids safe and well cared for at school. They’re also the staff members who are usually traveling the longest distance to commute to work and who can’t afford to own a home,” said Jeff Freitas, President,  President, California Federation of Teachers. “Prop 37 helps turn that around, giving a generational opportunity to those who haven’t had access to it before.”

Prop 37 requires homebuyers to be California residents, meet income requirements, pay at least 3% down, make monthly payments, and occupy the home as their residence. Annual state audits ensure transparency and financial health, and consumer protections include strict bank fee limits and no early payoff penalty.