Making Condos Safer and Affordable Act of 2026

This bill, known as the "Making Condos Safer and Affordable Act of 2026," aims to enhance the safety and affordability of condominium living by expanding federal mortgage insurance options for necessary repairs and improvements. It amends the National Housing Act to authorize the Secretary to insure mortgages for condominium governing bodies . These mortgages would finance the costs of rehabilitating, altering, repairing, improving, or replacing common systems, infrastructure, or facilities serving the condominium project, with a loan limit of 90 percent of the project cost. The legislation also addresses financial burdens on individual unit owners by expanding the eligibility of existing FHA loan programs. It amends Section 203(k) to allow rehabilitation loans to cover non-regular assessments charged to unit owners for common facility repairs or to fund reserves for future project-level improvements. Furthermore, it expands Title I Property Improvement Loans to include financing for these special assessments, increasing the maximum loan amount for such purposes from $25,000 to $55,000. The Secretary is also directed to streamline regulations for these specific rehabilitation loans and to annually adjust Title I loan limits based on inflation.