U.S. Congress Passes Historic Bipartisan Housing Package

The U.S House of Representatives recently voted 358 to 32, to pass the historic bipartisan 21st Century "ROAD TO HOUSING ACT", sending it to the President's desk for signature.

This landmark legislation contains 50+ major provisions designed to increase housing supply, improve affordability, and expand pathways to homeownership across the country.

Builders, Lenders, Realtors, Attorneys, Homeowners and other Real Estate Professionals across the country are especially proud to have helped advance the Act's ADU financing provisions, which will expand access to ADU loans for the millions of homeowners who currently hold low-interest-rate mortgages and cannot afford to refinance.

Among its many housing reforms, the Act will:

• Unlock ADU financing for homeowners with low-interest-rate first mortgages where refinancing does not make financial sense
• Expand the definition of manufactured housing so more projects can benefit from lower-cost construction methods
• Create federal incentives for local governments to build more housing by linking certain federal funding opportunities to housing production outcomes
• Help preserve existing housing through grants and loan programs for home repairs and rehabilitation
• Advance dozens of additional reforms to support housing production and affordability nationwide

The housing shortage and housing "un-affordability" did not happen overnight, and it will not be solved overnight. However, this piece of legislation marks one of the most significant federal housing supply victories in decades.

Next stop: the President's signature - it's still a long road ahead.

As always, if you have any questions regarding ADUs or JADUs, or would like to schedule a FREE site inspection, you can contact us at ADUNOW.HOUSE or scan the QR reader on the right to schedule a call!

Call NOW 1-888-360-3604 FOR A FREE SITE VISIT & STRATEGY SESSION CONSULTATION

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