Election Day 2026: California Voters Decide Proposition 1 and Proposition 37

Proposition 1: Veterans and Affordable Housing Bond Act

Proposition 1 would authorize $11.25 billion in general obligation bonds for veterans and affordable housing across California. Two pieces matter most to homebuyers: $1.25 billion for the CalVet Home Loan Program, which helps veterans, service members, and their families buy homes, and $1.1 billion for homeownership and down-payment assistance. The remaining funds are directed to affordable rental housing and related programs.

For veterans in particular, this is a direct question: should the state expand the CalVet program that has helped generations of California veterans finance homes? I have written a fuller plain-English breakdown of the measure, including who it targets and how the bond would be repaid, in my Proposition 1 guide.

Proposition 37: The $25 Billion Homebuyer Loan Program

Proposition 37 would create a $25 billion state-backed homebuyer loan program aimed at households earning under 200% of the area median income, with loans of up to 17% of a home's purchase price. Supporters describe it as a way to help more middle-income Californians build equity; opponents point to the scale of the borrowing and questions about how the program would be administered.

My Proposition 37 guide covers how the proposed program would work, who it targets, and how it compares with federal VA loans and with Proposition 1 on the same ballot. If you are a veteran comparison-shopping right now, it is worth reading both guides side by side, because your best path may already exist: VA loans with zero down payment, no PMI, and competitive rates are available today without waiting on any ballot measure.

What Happens Next, Either Way

Ballot measures do not change the market the morning after an election. If either proposition passes, the next phase is administrative: bond sales, program design, rulemaking, and implementation that typically takes many months or longer before any new loan or grant reaches a closing table. If either fails, the existing programs, VA loans, and current market conditions simply continue.

What that means for you today: your buying or selling decision should be planned around today's real numbers, not a ballot outcome. Mortgage rates eased to a 30-year fixed average of 7.24% in Freddie Mac's survey for the week of October 29, Santa Clarita prices are flat to modestly higher than a year ago, and inventory is up. Educated decisions create better results, and the best time to get educated is now.

Where to Follow Results Tonight

Election results begin posting Tuesday evening on the California Secretary of State's website, sos.ca.gov, and county elections offices update county-by-county numbers through the night. Early returns are partial, and close races can take days to fully count, so a lead at 9 p.m. is not a final result. A calm approach is the right approach: watch the data, not the ticker.

The Silver Standard on Ballot Season

My job is to help you make confident real estate decisions, whatever the news cycle brings. I do not tell you how to vote. I do my best to make sure you understand what you are voting on, and I am always ready to help you apply the outcome to your own family's plan.

Whether you are buying, selling, or just wondering what your home is worth, let's talk it through. Communication matters, and so does service. Buy Smart. Sell Smart. Silver Smart. How can I serve you?

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