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Easing Regulations for Small Owner-Financed Home Sales

This Act aims to increase homeownership opportunities, especially for underserved buyers, by reducing regulatory burdens on small property owners who finance the sale of their own homes. It exempts these "owner financers" from federal mortgage originator licensing requirements if they finance 24 or fewer properties annually. Crucially, the exemption maintains consumer protections, requiring sellers to verify the buyer's ability to repay and ensure fair loan terms.
Key points
Property owners who finance the sale of up to 24 homes per year are exempt from federal mortgage originator licensing rules.
The exemption requires loans to be fully paid off over time (fully amortizing) and mandates that the seller verify the buyer's reasonable ability to afford the payments.
The law seeks to boost home sales and wealth creation by making owner financing a more viable option for small sellers.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_HR_6511
Sponsor: Rep. Barr, Andy [R-KY-6]
Process start date: 2025-12-09
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Summarized by: gemini-flash-latest
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 119_HR_6511.

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 2025-12-09.

What are the main provisions?

Key points include:

  • Property owners who finance the sale of up to 24 homes per year are exempt from federal mortgage originator licensing rules.
  • The exemption requires loans to be fully paid off over time (fully amortizing) and mandates that the seller verify the buyer's reasonable ability to afford the payments.
  • The law seeks to boost home sales and wealth creation by making owner financing a more viable option for small sellers.
What is the specific legal status?

The current status is Introduced.

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. Barr, Andy [R-KY-6].

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 2025-12-31.

CATEGORIES

Real Estate Economy