What does Preamble of FHA Small-Dollar Mortgages Act do?

This bill authorizes the Secretary of Housing and Urban Development to establish a pilot program. The pilot program aims to increase access to small-dollar mortgages. The bill includes provisions for 'other purposes' beyond establishing the pilot program.

What does SHORT TITLE. of FHA Small-Dollar Mortgages Act do?

This bill is formally titled the FHA Small-Dollar Mortgages Act.

What does FHA SMALL-DOLLAR MORTGAGES. of FHA Small-Dollar Mortgages Act do?

This section establishes a pilot program within the Federal Housing Administration (FHA) to increase access to small-dollar mortgages. The Secretary of Housing and Urban Development, through the Federal Housing Commissioner, may implement this program within one year of the section's enactment. The pilot program may include authorizing direct payments to mortgagees, adjusting FHA terms and costs, providing grants for mortgagor expenses (down payments, closing costs, appraisals, title insurance), conducting outreach, and providing technical assistance. The Federal Housing Commissioner must submit annual reports to Congress evaluating the pilot program's outcomes, assessing risks to the Mutual Mortgage Insurance Fund, and providing data on small-dollar mortgages. The reports will include data on the number, principal balance, demographics, and types of mortgagees associated with small-dollar mortgages. The pilot program will terminate four years after its establishment. A 'small-dollar mortgage' is defined as a mortgage with an original principal balance of $100,000 or less, secured by a 1- to 4-unit property serving as the mortgagor's principal residence.

Back to bills

FHA Small-Dollar Mortgages Act

Last updated: 12/17/2025 · Introduced: 12/17/2025

Author: Maxine Waters (D-CA)

TL;DR (AI)

This bill establishes a four-year pilot program within the Federal Housing Administration (FHA) to expand access to mortgages with an original principal balance of $100,000 or less.
The pilot program allows the Secretary of Housing and Urban Development to provide financial assistance, such as direct payments to mortgagees and grants for mortgagor expenses, to facilitate small-dollar mortgages.
The Federal Housing Commissioner must annually report to Congress on the pilot program's performance, including data on small-dollar mortgages and potential risks to the Mutual Mortgage Insurance Fund.

119th Congressin committeeHR. 6644(Passed Both Chambers)Official page

Verified Votes

No verified votes yet.

Community Votes

No community votes yet. Be the first!

Voting as guest · Sign in for verified votes

Other Sections

Includes provisions on preamble, short title., and 1 more.

3 sections

Click "Show details" to explore individual sections. Use the community vote above or visit All Sections to vote per section.

Read official text

Want the full experience?

Create a free account to cast verified votes on each section, get a personalized summary, and track your voting history.

Create Free Account