This legislation permits the Federal Home Loan Mortgage Corporation (Freddie Mac) and the Federal National Mortgage Association (Fannie Mae) to purchase and securitize certain residential construction loans. These loans are specifically designed to finance projects that will result in the building of one or more owner-occupied dwelling units, with interest rates set by the Federal Housing Finance Agency Director to balance affordability and financial soundness. To qualify, loans must be originated by approved institutions and made to builders or developers, requiring the recipient to contribute at least 10 percent of the project's capital. Each loan is capped at $100,000 per dwelling unit and $2,400,000 per project, serving as supplemental or gap financing for costs such as land acquisition, infrastructure development, and construction. Originating institutions must verify the project's financial viability, capacity, and local community support. A key provision mandates that the dwelling units built with these loans must be sold to families whose income is between 90 percent and 130 percent of the area median income. To ensure these homes serve the intended purpose, purchasers are required to reside in the dwelling unit for not less than one year, a condition that must be secured by a recorded, restrictive covenant. To implement this program, the bill amends existing law to allocate a significant portion of funds for the enterprises. Specifically, 22 percent of certain amounts for both Freddie Mac and Fannie Mae will be dedicated to the purpose of purchasing and securitizing these qualifying construction loans, thereby channeling substantial financial resources into affordable housing development for working families.