{"id":14,"date":"2026-09-07T10:00:00","date_gmt":"2026-09-07T10:00:00","guid":{"rendered":"http:\/\/blogs.room-vu.com\/janineg-com\/2026\/09\/07\/proposition-37-17-second-mortgage\/"},"modified":"2026-09-07T10:00:00","modified_gmt":"2026-09-07T10:00:00","slug":"proposition-37-17-second-mortgage","status":"publish","type":"post","link":"https:\/\/www.janineg.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\/janine-gershon\/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>California\u2019s Proposition 37 is generating discussion in the Los Angeles real estate community\u2014and with good reason. This proposed measure would introduce a state-backed second mortgage, offering up to 17% of the purchase price to qualifying buyers of certain newly constructed homes, provided the buyer brings at least 3% to the table. By combining the state\u2019s assistance with the buyer\u2019s own funds, families could potentially bridge the 20% down-payment threshold, with a primary mortgage covering the balance. The state plans to issue up to $25 billion in revenue bonds, repaid by homeowners\u2019 loan payments, to fund this initiative.<\/p>\n<p>Having spent over three decades immersed in the LA market, I know firsthand that down-payment hurdles have kept many otherwise qualified buyers\u2014especially within Latino communities and other groups under persistent housing cost pressure\u2014from stepping into homeownership. While monthly mortgage payments may be manageable, accumulating that upfront cash is often the stumbling block. On November 3, 2026, Californians will weigh whether this loan-based approach for new homes should move forward on a large scale. As someone who tracks legislative developments and their impact on Los Angeles buyers and sellers, I\u2019ll be following this closely\u2014and will continue to keep my clients and colleagues informed about how policy shapes our ever-evolving market.<\/p>\n<\/p><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>California\u2019s Proposition 37 is generating discussion in the Los Angeles real estate community\u2014and with good reason. This proposed measure would introduce a state-backed second mortgage, offering up to 17% of the purchase price to qualifying buyers of certain newly constructed homes, provided the buyer brings at least 3% to the table. By combining the state\u2019s [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":46,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-14","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/www.janineg.com\/blog\/wp-json\/wp\/v2\/posts\/14","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.janineg.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.janineg.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.janineg.com\/blog\/wp-json\/wp\/v2\/comments?post=14"}],"version-history":[{"count":0,"href":"https:\/\/www.janineg.com\/blog\/wp-json\/wp\/v2\/posts\/14\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.janineg.com\/blog\/wp-json\/wp\/v2\/media\/46"}],"wp:attachment":[{"href":"https:\/\/www.janineg.com\/blog\/wp-json\/wp\/v2\/media?parent=14"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.janineg.com\/blog\/wp-json\/wp\/v2\/categories?post=14"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.janineg.com\/blog\/wp-json\/wp\/v2\/tags?post=14"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}