{"id":1121,"date":"2026-09-07T14:00:00","date_gmt":"2026-09-07T14:00:00","guid":{"rendered":"https:\/\/www.markmallorca.com\/blog\/?p=1121"},"modified":"2026-09-07T14:00:00","modified_gmt":"2026-09-07T14:00:00","slug":"proposition-37-17-second-mortgage","status":"publish","type":"post","link":"https:\/\/www.markmallorca.com\/blog\/2026\/09\/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\/mark-mallorca\/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 may soon see a new path to homeownership for buyers of certain newly built homes\u2014Proposition 37 introduces a state-backed second mortgage, designed to help more families cross the threshold. With buyers contributing at least 3% upfront, this program could provide up to 17% of the purchase price, so together with your own savings, you\u2019d reach the key 20% mark while the primary mortgage covers the remainder. The state plans to issue up to $25B in revenue bonds, with homeowners\u2019 loan payments supporting investors and the program itself. What stands out to me is how this addresses a real hurdle many face\u2014especially in California, where even families who can manage the monthly payments often struggle to gather enough for the down payment, a challenge that\u2019s particularly acute for Latino households. On November 3, 2026, voters will decide if this innovative, loan-based approach is the right next step for our communities. As a Realtor committed to helping you navigate every stage of your real estate journey, I\u2019m watching this closely\u2014because finding creative ways to unlock new beginnings is at the heart of what I do.<\/p>\n<\/p><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>California may soon see a new path to homeownership for buyers of certain newly built homes\u2014Proposition 37 introduces a state-backed second mortgage, designed to help more families cross the threshold. With buyers contributing at least 3% upfront, this program could provide up to 17% of the purchase price, so together with your own savings, you\u2019d [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1122,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1121","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/www.markmallorca.com\/blog\/wp-json\/wp\/v2\/posts\/1121","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.markmallorca.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.markmallorca.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.markmallorca.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.markmallorca.com\/blog\/wp-json\/wp\/v2\/comments?post=1121"}],"version-history":[{"count":1,"href":"https:\/\/www.markmallorca.com\/blog\/wp-json\/wp\/v2\/posts\/1121\/revisions"}],"predecessor-version":[{"id":1123,"href":"https:\/\/www.markmallorca.com\/blog\/wp-json\/wp\/v2\/posts\/1121\/revisions\/1123"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.markmallorca.com\/blog\/wp-json\/wp\/v2\/media\/1122"}],"wp:attachment":[{"href":"https:\/\/www.markmallorca.com\/blog\/wp-json\/wp\/v2\/media?parent=1121"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.markmallorca.com\/blog\/wp-json\/wp\/v2\/categories?post=1121"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.markmallorca.com\/blog\/wp-json\/wp\/v2\/tags?post=1121"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}