arrow_back Back to App

FHA Support for Small Mortgages: Review and Improve Access

This act aims to investigate why it is harder to get a mortgage for homes under $100,000. The goal is to increase homeownership opportunities for lower-income individuals and underserved borrowers, without jeopardizing the stability of the mortgage insurance fund.
Key points
A review of FHA mortgage insurance policies will be conducted to identify barriers for loans up to $100,000.
The objective is to facilitate access to mortgages for less expensive properties, potentially helping more people buy their first home.
A report detailing findings and planned actions will be submitted to Congress within 12 months.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 117_S_2131
Sponsor: Sen. Tester, Jon [D-MT]
Process start date: 2021-06-17
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

Improving FHA Support for Small-Dollar Mortgages Act of 2021

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_2131.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2021-06-17.

What are the main provisions?

Key points include:

  • A review of FHA mortgage insurance policies will be conducted to identify barriers for loans up to $100,000.
  • The objective is to facilitate access to mortgages for less expensive properties, potentially helping more people buy their first home.
  • A report detailing findings and planned actions will be submitted to Congress within 12 months.
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 Sen. Tester, Jon [D-MT].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-29.

CATEGORIES

Real Estate Economy