Maxine Waters (D-CA)
FHA Small-Dollar Mortgages Act
A Democratic bill with 1 Democratic cosponsor · See the cosponsor
Last activity — Referred to the House Committee on Financial Services.
In committee
Introduced and handed to a committee in the chamber it started in.
The committee holds it, and most bills are never heard from again. A hearing or a committee vote would be news; silence is the usual outcome, and it kills the bill without anyone voting against it.
Its path through Congress
- Introduced
- In Committee
What this bill would do
This bill, known as the "FHA Small-Dollar Mortgages Act," authorizes the Secretary of Housing and Urban Development to create a pilot program. The program aims to increase access to small-dollar mortgages, which are defined as mortgages for a person's principal residence with a balance of $100,000 or less. To achieve this, the program may include direct payments to mortgagees, adjustments to FHA terms, and direct grants for mortgagors to cover various costs. The Federal Housing Commissioner is also tasked with conducting outreach and providing technical assistance. The pilot program is scheduled to terminate four years after it is established.
Yes· 3 of 9
- Scored +5
Would households on low incomes be better off under this?
The provision of grants for down payments and closing costs specifically targets those seeking low-balance mortgages.
- Scored +5
Does this make housing cost less?
The bill increases access to homeownership by providing grants for down payments, closing costs, appraisals, and title insurance for small-s-dollar mortgages.
- Scored +3
Would people in rural areas be better off under this?
The bill includes a mandate to analyze and address the specific mortgage needs of rural regions.
The opposite
No question was scored the opposite.
Who it would affect, and how
Potential Positive Impacts for People
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Increased access to homeownership through financial assistance: The bill allows for direct grants to help people cover the costs of down payments, closing costs, appraisals, and title insurance (Section 2(a)(3)).
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Improved mortgage availability: The program may authorize direct payments to mortgagees to encourage them to issue small-dollar mortgages (Section 2(a)(1)).
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Reduced financial barriers: The Secretary may adjust the terms and costs imposed by the Federal Housing Administration regarding these specific loans (Section 2(a)(2)).
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Increased awareness: The program includes conducting outreach to let potential borrowers know that small-dollar mortgages are available (Section 2(a)(4)).
Potential Negative Impacts for People
- Risk to mortgage insurance funds: The bill requires an analysis of the risks the pilot program might pose to the solvency of the Mutual Mortgage Insurance Fund (Section 2(b)(2)).
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Tap or hover a score for the reason it gave.
- Demographic And Interest Groups
- Would households on low incomes be better off under this? — The provision of grants for down payments and closing costs specifically targets those seeking low-balance mortgages. Would people in rural areas be better off under this? — The bill includes a mandate to analyze and address the specific mortgage needs of rural regions. Would middle-income households be better off under this? — The bill expands mortgage options that may benefit middle-income residents seeking lower-priced homes. Would people in cities be better off under this? — Increased mortgage availability can aid urban housing markets.
- Social Issues And Justice
- Does this make housing cost less? — The bill increases access to homeownership by providing grants for down payments, closing costs, appraisals, and title insurance for small-s-dollar mortgages. Is this likely to lift people out of poverty? — Increasing access to homeownership can help build equity and reduce poverty over time.
- Economy And Finance
- Is this likely to grow the economy? — The bill facilitates homeownership through small-dollar mortgages which can stimulate local economies. Does this make it easier to run a small business? — The bill provides incentives and technical assistance to mortgagees to encourage the origination of small-dollar loans.
- Environment Energy And Infrastructure
- Does this invest in rural communities? — The bill specifically directs the evaluation of mortgage needs in rural regions to aid development.
- 3/18/2026
- 1 Cosponsor added.
- 12/17/2025
- Referred to the House Committee on Financial Services.
- Introduced in House
One bill Congress.gov lists as related to this one — companions in the other chamber, earlier versions, and bills this one absorbed or was folded into.
Ami BeraDemocrat · California