09/07/2026
Proposition 37: 17% Second Mortgage
California’s housing landscape may soon see a major shift with Proposition 37, which proposes a state-backed second mortgage covering up to 17% of the purchase price for qualifying new homes. Buyers would still need to contribute at least 3% upfront, but this program could help bridge the gap to a full 20% down payment—often the biggest hurdle for many families, especially in communities like ours where monthly payments are manageable but saving for a lump sum can feel out of reach. The state aims to fund up to $25 billion in revenue bonds for this initiative, with repayments coming directly from homeowners’ loan payments. As someone who treats each client’s loan as if it were my own and has helped many navigate these challenges first-hand, I see how impactful this could be—particularly for Latino households and other groups facing higher housing-cost pressures. On November 3, 2026, voters will determine whether California moves forward with this innovative approach. I’ll be watching closely, always ready to guide you through changes that could open more doors to homeownership in our diverse communities.
