To authorize the Secretary of Housing and Urban Development, acting through the Federal Housing Commissioner, to establish a pilot program to increase access to small-dollar mortgages, and for other purposes.

Sponsor: Maxine Waters (Democratic-CA)December 17, 2025

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Introduced

In Committee

Passed One Chamber

Passed Both Chambers

Signed into Law

Referred to the House Committee on Financial Services.

New pilot program would help people get home loans of $100,000 or less.

This bill would let the Department of Housing and Urban Development (HUD) start a pilot program to make it easier for people to get small home loans. The program could offer grants to help homebuyers with costs like down payments and closing fees. It would also encourage lenders to provide more mortgages with an original principal balance of $100,000 or less.

What Would Change

Today, there is no specific pilot program through the Federal Housing Administration (FHA) aimed at increasing access to small home loans. After this bill, the Department of Housing and Urban Development (HUD) would be able to start a pilot program to help people get mortgages with an original principal balance of $100,000 or less. This program could offer direct grants to homebuyers for costs like down payments and closing fees, and provide incentives to lenders.

Key Provisions

Lets the Department of Housing and Urban Development (HUD) start a pilot program to help people get small home loans.
Would define a "small-dollar mortgage" as a loan with an original principal balance of $100,000 or less for a main home.
Could offer grants to homebuyers for costs like down payments, closing costs, appraisals, and title insurance on these small loans.
Could pay lenders to encourage them to offer more small-dollar mortgages.
Requires the Federal Housing Commissioner to report yearly on the program's results and risks to Congress.
Ends the pilot program four years after it starts.

View on Congress.gov

HR 6774 · 119th Congress · December 17, 2025 · AI Summary by gemini-2.5-flash · 10/10

To authorize the Secretary of Housing and Urban Development, acting through the Federal Housing Commissioner, to establish a pilot program to increase access to small-dollar mortgages, and for other purposes.

What Would Change

Key Provisions

Lobbying Activity