Affordable Housing Preservation and Protection Act of 2026

This bill would allow the Department of Housing and Urban Development (HUD) to make direct loans, which may be forgiven, to owners, sponsors, or HUD-approved buyers of federally assisted apartment buildings with five or more units that need repairs. To qualify, a property must have safety, accessibility, or other deficiencies, its rents must be too low to support the debt needed for repairs, and the owner must agree to keep the property affordable for 30 years. Loans would carry 1 percent interest, and borrowers would generally need to cover at least 20 percent of repair costs from non-federal sources, though HUD could reduce or waive this. HUD could also extend, modify, or forgive loans to preserve affordability, and the bill authorizes such sums as may be necessary.

Full text and official record on Congress.gov

Sponsors

• Lisa Blunt Rochester Democrat sponsor
• 0 cosponsors