As a local REALTOR® and proud member of the California Association of REALTORS®, I sit across kitchen tables every week with hardworking neighbors—teachers, nurses, first responders, and local workers of all backgrounds. They earn honest livings and pay their bills on time, but every day they watch the dream of owning a home slip further out of reach.
The hurdle isn't that they can't handle monthly mortgage payments; it’s that high rent makes saving tens of thousands of dollars for a down payment nearly impossible. Existing programs help low-income households, but middle-class residents earning solid incomes are trapped in a gap: they make too much to qualify for state aid, but not enough to compete in California’s housing market.
That is why C.A.R. is asking you to join us in voting YES on Proposition 37, the Middle-Class Homeownership and Family Home Construction Act.
What Your "YES" Vote Achieves
Proposition 37 establishes a self-sustaining program administered by the California Housing Finance Agency (CalHFA) that empowers middle-class buyers while tackling our state's housing shortage:
- Unlocks Down Payment Assistance: Eligible middle-class buyers who put down 3% out of pocket can receive up to a 17% fixed-rate second mortgage.
- Lowers Monthly Costs: Reaching a full 20% down payment eliminates costly Private Mortgage Insurance (PMI), keeping monthly payments manageable.
- Builds New Housing: Assistance applies exclusively to newly built homes and conversions, encouraging homebuilders to expand housing supply across California.
- Protects Taxpayers: Because buyers repay their second mortgages, the bonds pay for themselves without taking a single dollar from California's General Fund or raising income taxes.
When community members can put down permanent roots, our local schools thrive, neighborhood economies grow stronger, and our whole state flourishes.
We cannot afford to keep watching California's middle class get priced out of the communities they serve every day. Please vote YES on Proposition 37!