California Proposition 37 (Creates Loan Program for Middle-Income Buyers of Qualified New Homes) is on the November 3, 2026 ballot. Authorize up to $25 billion in bonds to offer eligible buyers fixed-rate second mortgages for up to 17% of the purchase price of a qualified new home. Bonds are repaid by homeowners' mortgage payments, not the State.
What a yes or no vote means
Read the certified ballot question
Authorize up to $25 billion in bonds to offer eligible buyers fixed-rate second mortgages for up to 17% of the purchase price of a qualified new home. Bonds are repaid by homeowners' mortgage payments, not the State.
Verify with the state: official full text and details →.
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About this measure
California allows initiated constitutional amendments, initiated statutes, and veto referendums, and the Legislature can refer amendments with a two-thirds vote of each house. Initiative signature requirements are pegged to the last governor's race: 8 percent of votes cast for constitutional amendments (874,641 signatures for the 2026 cycle) and 5 percent for statutes and referendums (546,651), gathered within a 180-day circulation window. Every measure, citizen-initiated or referred, passes with a simple majority of votes cast on it.
Wording above follows the certified ballot language; The Ballot Brief does not take positions on measures.