Bill · S. 964· Senate(119-S-964)
Property Improvement and Manufactured Housing Loan Modernization Act of 2025
- Introduced
- 3/11/2025
- Last activity
- 3/11/2025 — Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (Sponsor introductory remarks on measure: CR S1666)
- Sponsored by
- John Reed
- Cosponsors
- - 1 - 1
- Introduced
- In Committee
What this bill would do
This bill is called the Property Improvement and Manufactured Housing Loan Modernization Act of 2025. It changes title I of the National Housing Act to raise various loan limits and clarifies that property improvement loans can pay for building accessory dwelling units. The text allows the Secretary to set specific loan amounts for building accessory dwelling units and increases limits for single-family structures, manufactured homes, and manufactured homes with developed lots. It also directs the Secretary to annually index these dollar amount limitations and requires a study on factory-built housing.
Yes· 3 of 22
Would households on low incomes be better off under this?+7
Increased limits for manufactured homes provide more affordable ownership options for low-income households.
Would people in rural areas be better off under this?+7
Substantial increase in loan limits for manufactured homes directly benefits rural housing markets.
Does this make housing cost less?+7
Increases loan limits for manufactured homes and accessory dwelling units to expand affordable housing options.
The opposite
No question was scored the opposite.
Who it would affect, and how
Potential Positive Impacts for People
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Section 2(a)(1): This provision explicitly clarifies that property improvement loans may be used for the construction of additional or accessory dwelling units. This is positive because it gives people clear financial options for building these specific types of housing.
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Section 2(a)(2)(A)(i): This increases the loan limit to $75,000 for financing alterations, repairs, and improvements on an existing single-family structure, including a manufactured home. This is beneficial as it provides individuals with access to higher loan amounts for home repairs and upgrades.
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Section 2(a)(2)(A)(ii): This increases certain loan limits, such as raising a $60,000 limit to $150,000 and a $12,000 limit to $37,500. This is positive because it expands the amount of funding available for specific housing projects.
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Section 2(a)(2)(A)(iii): This establishes specific higher loan limits for purchasing single-section and multi-section manufactured homes, as well as manufactured homes with suitably developed lots. This helps individuals secure adequate financing to purchase manufactured housing and land.
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Section 2(a)(2)(C): This requires the Secretary to annually index the loan limits based on appropriate data. This is a positive measure to help ensure loan limits keep pace with changing economic conditions over time.
Potential Negative Impacts for People
- The provided text does not explicitly identify any specific negative consequences or burdens for individuals or groups of people in the United States.
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Demographic And Interest Groups
- Good For Low Income Households+7Good For Rural Residents+7Good For Middle Class Households+6Good For Middle Aged+5Good For Urban Residents+5Good For Farmers+4Good For People With Disabilities+4Good For Retirees+4Good For Seniors+4Good For Young Adults+4Good For African Americans+3Good For Business Owners+3Good For Hispanic Americans+3Good For Native Americans+3
- Social Issues And Justice
- Improves Affordable Housing+7Reduces Homelessness+4Improves Poverty Reduction+3
- Economy And Finance
- Improves Economic Growth+3Improves Small Business Support+2Increases Job Creation+2
- Environment Energy And Infrastructure
- Improves Rural Development+5
- Governance And Ideology
- Increases Federal Power+2
- 7/24/2025
- 1 Cosponsor added.
- 3/11/2025
- Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (Sponsor introductory remarks on measure: CR S1666)
- 1 Cosponsor added.
- Introduced in Senate
One bill Congress.gov lists as related to this one — companions in the other chamber, earlier versions, and bills this one absorbed or was folded into.
Cynthia LummisRepublican · Wyoming
Charles SchumerDemocrat · New York