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Making Owner Financing Easier for Small Sellers

This bill aims to make it simpler for small property owners to offer financing directly to buyers. It removes some licensing rules for owners who sell and finance a limited number of homes they own, potentially helping buyers who can't get traditional bank loans.
Key points
Small property owners offering financing on homes they own may no longer need a mortgage originator license if they do it for 24 or fewer properties a year.
This could create more options for people looking to buy a home but facing difficulties getting a standard mortgage.
The changes only apply to certain types of owner financing, not rent-to-own or land contracts.
The government will study how owner financing is used, especially for lower-priced homes, and report on potential benefits.
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Status:
Expired
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Additional Information
Print number: 117_HR_5013
Sponsor: Rep. Gonzalez, Vicente [D-TX-15]
Process start date: 2021-08-13
System Note: Lustra is free, publicly auditable civic infrastructure, with full source code available on GitHub. You are reading sterilized legislative data, processed by our radical neutrality engine to strip political spin and retain factual mechanics. We process only official government data. Original documents remain the authoritative source, always verify them if you can.
Summarized by: gemini-2.5-flash-preview-04-17
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Affordable Homeownership Access Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_5013.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-08-13.

What are the main provisions?

Key points include:

  • Small property owners offering financing on homes they own may no longer need a mortgage originator license if they do it for 24 or fewer properties a year.
  • This could create more options for people looking to buy a home but facing difficulties getting a standard mortgage.
  • The changes only apply to certain types of owner financing, not rent-to-own or land contracts.
  • The government will study how owner financing is used, especially for lower-priced homes, and report on potential benefits.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Gonzalez, Vicente [D-TX-15].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Financial Services.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

What is the impact of this bill?

We don't know, that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge.

CATEGORIES

Real Estate Economy