A bill to modify the multifamily loan limits under title II of the National Housing Act, and for other purposes.
Housing Affordability Act
This bill increases the Federal Housing Administration’s (FHA's) multifamily housing loan limits for mortgage insurance and requires the use of a more specific inflation index for these limits.
Specifically, the bill increases the loan limits to qualify for FHA mortgage insurance for rental housing, cooperative housing, rehabilitation and neighborhood conservation housing, housing for moderate income and displaced families, housing for elderly persons, and condominiums, and it requires these limits to be indexed to the Price Deflator Index of Multifamily Residential Units Under Construction released by the Bureau of the Census. Currently, these limits are indexed to the Consumer Price Index for All Urban Consumers.
Referred to the House Committee on Financial Services.
Introduced in Senate
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
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