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Support for Native American Rural Homeownership

This act aims to facilitate homeownership for Native Americans, Alaska Natives, and Native Hawaiians in rural areas. It achieves this by permanently funding a lending program for financial institutions serving these communities, increasing access to mortgages and improving housing conditions.
Key points
Permanent Funding: The lending program for Native community development financial institutions is made permanent, ensuring long-term support.
Increased Loan Access: $50 million annually will be set aside for direct loans to these institutions, boosting their capacity to provide mortgages.
Operational Support: These institutions will also receive grants for operational support, helping them function more effectively and reach more individuals.
Priority for Tribal Land: Loans will prioritize individuals residing on priority Tribal land, aiming to strengthen these communities.
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Additional Information
Native American Rural Homeownership Improvement Act of 2021
Print number: S 2092
Sponsor: Sen. Smith, Tina [D-MN]
Process start date: 2021-06-16