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LibraryProp 37 home loan guides
Everything we publish about California's new middle-class homeownership loan, organized so you can start with the big picture and go as deep as you need.
On November 3, 2026, California voters took up Proposition 37, which lets the California Housing Finance Agency sell up to $25 billion in revenue bonds to fund second mortgages on newly built homes. A buyer puts down at least 3 percent, the loan covers up to 17 percent, and a regular first mortgage covers the rest.
These guides explain the measure in plain English. Each one sticks to what the measure, the Legislative Analyst and state agencies have actually published, links to the source, and says clearly when something isn't known. The biggest open questions today are the interest rate, the loan term, how repayment works if you sell, and when applications open. We track those on the updates page and change these guides when CalHFA publishes an answer.
If you're new to the topic, start with the main guide. If you're shopping for a home, the eligibility, county limits and cost guides are the most practical. Agents, loan officers and builders have their own page.
Core guides
How the loan works
The three pieces of money, the protections in the measure and what CalHFA still decides.
Read the guide →Eligibility
The buyer rules, the home rules and a quick readiness check.
Check the rules →County limits
Price caps and income ceilings for all 58 counties.
Find your county →Qualified new homes
What counts, what doesn't and what's different about buying new.
Read the guide →Monthly cost
A calculator that shows how much the unknown rate could matter.
Open the calculator →Compare programs
Prop 37 next to Dream For All, MyHome and FHA.
See the comparison →Get an email when Prop 37 loans open
Voters approved the measure, but CalHFA still has to write the rules, sell the bonds and sign up lenders. Leave your name and email and we'll tell you when applications open or when the terms are published. Nothing else.
Just your name and email. We never ask for income, phone or loan details. See our privacy policy.