Housing Affordability Act

This bill seeks to enhance the financing available for multifamily housing projects by substantially increasing the maximum loan limits under Title II of the National Housing Act. It amends multiple sections of the Act, replacing outdated dollar amounts with significantly higher figures across various housing programs. These adjustments are crucial for ensuring that federal loan programs remain relevant and effective in supporting the development and preservation of affordable multifamily housing in current market conditions. Furthermore, the legislation revises the mechanism for future annual adjustments to these loan limits. Beginning July 1, 2025, the Secretary will calculate these adjustments using the percentage change in the Price Deflator Index of Multifamily Residential Units Under Construction , as published by the Bureau of the Census. This new index provides a more accurate and responsive measure for aligning loan limits with evolving construction costs. All such adjustments will be formally published in the Federal Register and rounded to the next lower dollar.