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Higher FHA Loan Limits for Homes in Select Cities and Counties.

This act increases the maximum mortgage amounts insured by the FHA, especially in cities and counties where home prices are high or have previously decreased. This aims to make homeownership more accessible for more people, particularly in more expensive areas. The changes will apply to mortgages with case numbers assigned on or after January 1, 2023.
Key points
Increased maximum FHA loan amounts available for home purchases, especially in high-cost housing areas.
New rules apply to cities and counties meeting specific criteria related to home prices and past price changes.
Introduction of a counseling requirement for some first-time homebuyers if their loan exceeds 97% of the property's appraised value.
Possibility to increase the loan amount by 20% to cover the costs of installing solar energy systems.
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Expired
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Additional Information
Print number: 117_HR_5915
Sponsor: Rep. Aguilar, Pete [D-CA-31]
Process start date: 2021-11-09
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

FHA Fairness Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_5915.

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 2021-11-09.

What are the main provisions?

Key points include:

  • Increased maximum FHA loan amounts available for home purchases, especially in high-cost housing areas.
  • New rules apply to cities and counties meeting specific criteria related to home prices and past price changes.
  • Introduction of a counseling requirement for some first-time homebuyers if their loan exceeds 97% of the property's appraised value.
  • Possibility to increase the loan amount by 20% to cover the costs of installing solar energy systems.
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. Aguilar, Pete [D-CA-31].

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.

CATEGORIES

Real Estate Economy