It’s not every day we see a proposal that could change the homebuying journey for so many Californians. There’s a new ballot measure on the table—Prop 37—which would create a $25 billion bond-backed loan program to help residents cover up to about 17% of a down payment on new homes. To qualify, buyers would still need to bring at least 3% to the table, and a primary mortgage would handle the remaining 80%.
To put this into perspective: in Sacramento County, the average buyer might only need to save around $16,000, and in San Francisco, about $42,000. These loans would be available for new homes from qualifying builders, aiming to make homeownership more reachable for renters and to expand middle-class housing options.
As someone who’s spent over 20 years guiding people through these big life steps, I know how daunting that initial down payment can feel. While there’s been little formal opposition so far, some concerns have come up about the building requirements and whether every borrower will be set up for success. My commitment remains: to walk with you, answer your questions honestly, and give you the information you need—because decisions like these deserve clarity and care.
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