11/02/2026
California Proposition 37: What Homebuyers in Riverside County Need to Know
Could Proposition 37 make buying a new home more accessible in California? Maybe…but there are some important details to understand before getting too excited.
Here are the key takeaways:
🏡 Up to 17% assistance: The measure would create a program offering eligible buyers a fixed-rate second mortgage for up to 17% of the purchase price of a qualifying new home.
💰 It’s a loan, not a grant: This is additional debt that must be repaid. It isn’t free down payment assistance.
📊 Income limits: Household income must be no more than 200% of the area median income. For a Riverside County household of four, the estimated 2026 limit is $213,000 per year. Final program limits will depend on CalHFA’s implementation.
🏠 Purchase price limit: For Riverside County, the estimated 2026 cap is $1,040,938.
🔨 New homes only: The program is designed for qualifying new construction and certain newly converted properties. It does not apply to typical existing resale homes.
📌 Other requirements: Buyers must have been California residents for at least one year, plan to occupy the home as their primary residence, and contribute at least 3% of the purchase price from their own non-borrowed, non-grant funds.
The big picture: This could help some buyers who have enough income to afford a mortgage but haven’t saved enough for a traditional down payment. On the other hand, taking on a second loan means more debt, and the actual interest rate and program terms will matter.
As with any ballot measure, there are potential benefits and trade-offs. Make sure you understand both before making up your mind.
Tawny Patrick | Sackin Stone Team
Seven Gables Real Estate
DRE #02123242
📱 714-710-0625
Information is based on the proposed program and currently available 2026 estimates. Final eligibility requirements, rates, and loan terms will depend on CalHFA’s implementation
