The Housing Affordability Act significantly increases the loan limits that the Federal Housing Administration can insure for multifamily residential properties (apartment buildings and similar housing). The bill raises these caps by roughly 4 to 4.4 times across various property types and geographic areas, with specific dollar limits now ranging from approximately $166,000 to $385,000 per unit depending on location and housing type. The changes take effect January 1, 2026, and establish a new annual adjustment mechanism using the Census Bureau's Price Deflator Index for multifamily construction costs rather than the previous adjustment formula that started in 2004. This legislation primarily affects developers, property owners, and lenders who use FHA-insured mortgages to finance or refinance apartment complexes and other multifamily housing projects. The bill was introduced by Representatives De La Cruz and Torres of New York and carries no new federal appropriations, as it modifies existing loan guarantee programs.
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