Housing Affordability Act

Summary#

This bill (the Housing Affordability Act) changes how multifamily mortgage dollar limits are set under title II of the National Housing Act. It directs the Secretary to calculate annual adjustments using the percentage change in the "Price Deflator Index of Multifamily Residential Units Under Construction" from March of the prior year to March of the adjustment year, beginning July 1, 2025. The bill requires the Secretary to publish any adjustments in the Federal Register and to round adjusted dollar amounts down to the next lower dollar. The bill also replaces many specific dollar amounts across several sections (including sections 206A, 207, 213, 220, 221, 231, and 234) with new numeric values listed in the text.

What it means for you#

  • The numeric dollar amounts used to set maximum multifamily mortgage limits will be updated starting July 1, 2025.
  • Annual adjustments will be tied to the Census "Price Deflator Index of Multifamily Residential Units Under Construction" using March-to-March changes.
  • The agency must publish any changes in the Federal Register and round the dollar figures down to the next lower dollar.
  • The bill lists many new specific dollar figures for multiple statutory provisions that currently set loan- or cost-related dollar thresholds.

Expenses#

No publicly available information on estimated budgetary effects or costs is included in the bill text or provided metadata.

Proponents' View#

No publicly available information.

Opponents' View#

No publicly available information.