Bill > S3905

This bill, the Property Improvement and Manufactured Housing Loan Modernization Act of 2024, proposes several key changes to the National Housing Act. It would increase the loan limits for property improvement loans, including for the construction of accessory dwelling units. It would also raise the loan limits for the purchase of manufactured homes, both single-section and multi-section, as well as the purchase of a manufactured home and lot. Additionally, the bill requires the Secretary of Housing and Urban Development to develop or choose a method of annually indexing these loan limits. Finally, the bill directs the Secretary to conduct a study on the cost-effectiveness of factory-built housing, including manufactured and modular homes, and their potential applications beyond single-family housing.