California Prop 37 Homebuyer Loan Calculator (17%)
California voters approved Proposition 37 on November 3, 2026, by early counts. It creates a state-backed loan of up to 17% of the price of a qualifying new home for middle-income buyers who put at least 3% down. Enter a home price and your income to see the most it could cover, what's left for your first mortgage, and whether you'd likely fit the income rule. Everything runs in your browser and nothing is saved.
Status as of November 4, 2026
Approved, not yet certified, not yet open. CBS News and the AP projected Prop 37 passed with about 61% yes on election night (CBS News ↗). The California Secretary of State certifies results after counties finish counting. CalHFA still has to sell the bonds and set the loan rate, term and application steps, and none of those have been announced yet. Program rules below come from the official title and summary ↗ and the Legislative Analyst's analysis ↗.
How we calculate
- Largest Prop 37 loan: 17% of the price, but never more than the price minus your down payment.
- First mortgage: price minus your down payment minus the Prop 37 loan. With 3% down and the full 17%, that's 80% of the price.
- Income check: your income compared with twice the area median income you enter (the measure's "less than twice the area's median income" rule).
- Price check: the measure caps prices at about $1 million to $1.5 million depending on county, so prices in that range are flagged as "depends on your county."
- Payments: standard 30-year fixed principal and interest, only for rates you type in. Taxes, insurance and any mortgage insurance aren't included.
Can you get help today instead?
Prop 37 money isn't available yet. California buyers can look at the state and local programs open now on our California down payment assistance page, and estimate your full cash at closing with the cash-to-close calculator.
Sources
- California Secretary of State, Official Voter Information Guide: Proposition 37 official title and summary ↗
- Legislative Analyst's Office: Proposition 37 analysis ↗
- CBS News Bay Area: Prop 37 approved, CBS News projects (Nov. 3, 2026) ↗
Related: California down payment assistance · cash-to-close calculator · shared appreciation calculator · homebuyer updates
Educational estimate only, not a loan offer. Final rules, rates and price limits will come from CalHFA.
Common questions
Did California Proposition 37 pass?
Yes, by early counts. CBS News and the AP projected on election night (November 3, 2026) that Prop 37 was approved, with about 61% voting yes. California counties keep counting for weeks and the Secretary of State certifies the result later, so treat the totals as unofficial until then.
What does Prop 37 do?
It lets the California Housing Finance Agency (CalHFA) sell up to $25 billion in revenue bonds to fund a new "middle-class homeownership loan." Each loan is a fixed-rate mortgage for up to 17% of the purchase price of a qualifying new home. Homeowners' payments repay the bonds, so the Legislative Analyst's Office estimates no direct state or local cost.
Who qualifies for a Prop 37 loan?
According to the official title and summary, you must have been a California resident for at least one year, live in the home, earn less than twice your area's median income, and pay at least 3% down. CalHFA will set the detailed rules.
Which homes qualify?
Only a "qualified new home": new construction or the first sale of a converted nonresidential building, with the buyer as the first purchaser, priced below about $1 million to $1.5 million depending on the county. The limit is adjusted every year. Resale homes don't qualify.
Is the Prop 37 loan free money or a grant?
No. It's a loan you repay with monthly payments. The measure requires CalHFA to keep interest costs as low as possible, but the rate, term and fees haven't been announced.
When can I apply?
Not yet. Voters approved the measure, but CalHFA still has to sell bonds and write program rules, and no application date has been announced. Existing CalHFA and local programs are still the way to get help today.
Is this calculator private?
Yes. It runs in your browser, and nothing you type is sent or saved.
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