{"id":13,"date":"2026-09-07T13:00:00","date_gmt":"2026-09-07T13:00:00","guid":{"rendered":"http:\/\/blogs.room-vu.com\/ruthfisherhomes-com\/2026\/09\/07\/proposition-37-17-second-mortgage\/"},"modified":"2026-09-07T13:00:00","modified_gmt":"2026-09-07T13:00:00","slug":"proposition-37-17-second-mortgage","status":"publish","type":"post","link":"https:\/\/www.ruthfisherhomes.com\/blog\/2026\/09\/07\/proposition-37-17-second-mortgage\/","title":{"rendered":"Proposition 37: 17% Second Mortgage"},"content":{"rendered":"<div class=\"video-zmyer\">\n<div class=\"video-frame-zmyer\">\n        <iframe loading=\"lazy\" width=\"640\" height=\"640\"\n                src=\"https:\/\/www.roomvu.com\/agent\/embed\/ruth-fisher\/california-proposition-37-remotion-videos-02ae\"\n                frameborder=\"0\"\n                allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\"\n                allowfullscreen><br \/>\n        <\/iframe>\n    <\/div>\n<div class=\"video-description-zmyer\">\n<p>Proposition 37 introduces a state-backed second mortgage for qualifying buyers of select newly built homes in California, aiming to make homeownership more accessible. Under this proposal, buyers would contribute at least 3% upfront, with state assistance covering up to 17% of the purchase price. Together, this allows buyers to reach the critical 20% down payment mark, while a primary mortgage covers the remaining balance. The initiative would permit the state to issue up to $25 billion in revenue bonds, with loan payments from participating homeowners designated to repay investors and sustain the program.<\/p>\n<p>This measure is especially significant for families\u2014including many Latino households\u2014who can manage monthly mortgage payments but find saving for a substantial down payment challenging. As someone who has navigated California\u2019s real estate landscape for nearly two decades, I have seen firsthand how down payment barriers can stand in the way of long-term ownership. On November 3, 2026, voters will decide whether this innovative approach deserves a statewide pilot. I\u2019ll be following the outcome closely, as programs like this could reshape the path to homeownership for many in our communities.<\/p>\n<\/p><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Proposition 37 introduces a state-backed second mortgage for qualifying buyers of select newly built homes in California, aiming to make homeownership more accessible. Under this proposal, buyers would contribute at least 3% upfront, with state assistance covering up to 17% of the purchase price. Together, this allows buyers to reach the critical 20% down payment [&hellip;]<\/p>\n","protected":false},"author":350,"featured_media":44,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-13","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-posts"],"_links":{"self":[{"href":"https:\/\/www.ruthfisherhomes.com\/blog\/wp-json\/wp\/v2\/posts\/13","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ruthfisherhomes.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ruthfisherhomes.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ruthfisherhomes.com\/blog\/wp-json\/wp\/v2\/users\/350"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ruthfisherhomes.com\/blog\/wp-json\/wp\/v2\/comments?post=13"}],"version-history":[{"count":0,"href":"https:\/\/www.ruthfisherhomes.com\/blog\/wp-json\/wp\/v2\/posts\/13\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.ruthfisherhomes.com\/blog\/wp-json\/wp\/v2\/media\/44"}],"wp:attachment":[{"href":"https:\/\/www.ruthfisherhomes.com\/blog\/wp-json\/wp\/v2\/media?parent=13"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ruthfisherhomes.com\/blog\/wp-json\/wp\/v2\/categories?post=13"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ruthfisherhomes.com\/blog\/wp-json\/wp\/v2\/tags?post=13"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}