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New pilot program to increase access to small-dollar home mortgages

This act creates a pilot program to help people get mortgages for $100,000 or less for their primary homes. It offers grants for down payments and closing costs to make homeownership more affordable.
Key points
Mortgages limited to $100,000 or less for primary residences with 1 to 4 units.
Direct grants for borrowers to cover down payments, appraisals, and closing costs.
Financial incentives for lenders to encourage them to offer smaller mortgage loans.
The pilot program will run for four years and include annual reports on its success.
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Status:
Introduced
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Additional Information
FHA Small-Dollar Mortgages Act
Print number: HR 6774
Sponsor: Rep. Waters, Maxine [D-CA-43]
Process start date: 2025-12-17
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Summarized by: gemini-flash-latest
Source data: api.congress.gov
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Summary & Status

Key Questions about New pilot program to increase access to small-dollar home mortgages

A structured overview of the legislative process, official sources, status and civic context.

What is the official ID of this bill?

The official print number for this legislation is HR 6774.

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 2025-12-17.

What are the main provisions?

Key points include:

  • Mortgages limited to $100,000 or less for primary residences with 1 to 4 units.
  • Direct grants for borrowers to cover down payments, appraisals, and closing costs.
  • Financial incentives for lenders to encourage them to offer smaller mortgage loans.
  • The pilot program will run for four years and include annual reports on its success.

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. Waters, Maxine [D-CA-43].

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 2026-04-22.

Analysis and Potential Impact of HR 6774

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. Review our public AI processing logs for full transparency, and use Lustra to track active legislation for instant status push notifications.

CATEGORIES

Real Estate Economy