11/09/2026
If you have been sitting out because of the down payment, Prop 37 just moved. CBS News projects California voters approved it. Counts are still unofficial, so the final margin can change.
What the measure does: a state loan could cover up to 17 percent of the price, you bring at least 3 percent, and you need to be a California resident earning under 200 percent of your area median income.
The catch that matters most here: it is for a qualified new home, not a resale. A 1978 condo in Palm Desert or a house in La Quinta Cove does not qualify. And the state still has to build the program, so nothing opens up this week.
🗣️ MY TAKE: I look at the monthly payment before I get excited about any down payment number, because two loans means a bigger payment than the headline suggests.
Source: CBS News San Francisco, Nov 3, 2026 projection.
Laura Lake | Your Desert Real Estate Partner | DRE #01455311