Making Condos Safer and Affordable Act of 2026

Funding for Project Repairs: The bill allows the Secretary to insure mortgages that a condominium's governing body can use to finance the rehabilitation, alteration, repair, improvement, or replacement of common systems, infrastructure, or facilities (Section 2, Section 234(l)).

Support for Individual Owners: Individual unit owners can use insured loans to pay for non-regular assessments charged by their governing body to cover costs for future project-level improvements or repairs (Section 3(a), Section 203(k)(2)(A)(iv)).

Increased Loan Amounts: The bill increases the dollar amount limit for certain Title I property improvement loans from $25,000 to $55,000 (Section 3(b)(1)(A)(i)).

Protection Against Inflation: The Secretary is required to annually increase certain dollar amount limitations in accordance with the Consumer Price Index for All Urban Consumers (Section 3(b)(1)(A)(ii)).

Easier Management of Repairs: The Secretary is directed to streamline regulations regarding the verification of repair plans, management of work, and disbursement of loan proceeds for rehabilitation loans used for assessments or reserves (Section 3(a), Section 203(k)(5)).

Loan Limitations: For mortgages intended to finance project-level repairs, the principal obligation cannot exceed 90 percent of the cost of the proposed project (Section 2, Section 234(l)(2)).

Loan Caps for Property Value: For rehabilitation loans, the principal obligation cannot exceed 115 percent of the Secretary's estimate of the property's value after the work is done (Section 3(a), Section 203(k)(2)(A)(3)(A)).