What is in the new HOUSING ACT??
The law includes provisions to help communities remove barriers to new housing, modernize federal housing programs, encourage modular and manufactured housing, streamline permitting and environmental reviews, preserve existing housing stock, support rural housing and expand local planning efforts to increase housing production.
The package creates new opportunities for small-dollar mortgages, encourages lenders to serve underserved borrowers, supports homeownership savings initiatives and improves housing options for families using housing vouchers.
Several provisions strengthen financing for affordable housing development, encourage community investment, support bank formation and improve access to capital needed to build more homes.
The legislation expands awareness of Veterans Affairs home loan benefits, strengthens housing assistance for disabled veterans and improves transparency through the Veterans Affairs Loan Informed Disclosure Act, helping veteran home buyers better compare available financing options.
Content by Michael Rauber
