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Increased Loans for Home Improvements and Manufactured Homes, Including ADUs.

This act increases maximum loan amounts for home improvements and manufactured home purchases, making it easier to finance property upgrades and the construction of accessory dwelling units. These changes aim to improve access to financing for citizens looking to enhance their living conditions or invest in real estate.
Key points
Increased loan limits for single-family home improvements to $75,000.
Increased loan limits for purchasing single-section and multi-section manufactured homes, and lots for them, to $106,405 and $195,322 (homes) and $149,782 and $238,699 (homes with lots) respectively.
Allows property improvement loans to be used for constructing accessory dwelling units (ADUs) on existing properties.
Introduces annual indexing of loan limits to adjust for changing market conditions.
Requires a study on the cost-effectiveness of factory-built housing (manufactured and modular homes).
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_S_964
Sponsor: Sen. Reed, Jack [D-RI]
Process start date: 2025-03-11
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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

Property Improvement and Manufactured Housing Loan Modernization Act of 2025

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_S_964.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2025-03-11.

What are the main provisions?

Key points include:

  • Increased loan limits for single-family home improvements to $75,000.
  • Increased loan limits for purchasing single-section and multi-section manufactured homes, and lots for them, to $106,405 and $195,322 (homes) and $149,782 and $238,699 (homes with lots) respectively.
  • Allows property improvement loans to be used for constructing accessory dwelling units (ADUs) on existing properties.
  • Introduces annual indexing of loan limits to adjust for changing market conditions.
  • Requires a study on the cost-effectiveness of factory-built housing (manufactured and modular homes).
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 Sen. Reed, Jack [D-RI].

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 2025-12-23.

CATEGORIES

Real Estate Economy