United States 119th Congress Status: In Committee Bipartisan · 2 D · 1 R cosponsors

S 964 — Property Improvement and Manufactured Housing Loan Modernization Act of 2025

Last action — Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (Sponsor introductory remarks on measure: CR S1666)

  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed House
  5. 5
    To Executive
  6. 6
    Enacted

This bill is in committee in the Senate. Introduced March 11, 2025. It must pass committee before a floor vote.

Next likely step: a committee vote, then a floor vote in the Senate.

Odds of enactment

Low chance

Based on the sponsor, cosponsors, and committee posture, this bill has a low chance of becoming law.

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A statistical estimate from our own model of past outcomes — an insight, not a guarantee. Policymaking is volatile.

Prognosis

Advancing 36% · moderate confidence

  • In Committee

    Current position in the legislative process.

  • 3 sponsors

    1 primary, 2 co-sponsors signed on.

  • Bipartisan support

    Sponsored across 2 parties (2 D · 1 R) — cross-party backing.

Based on stage, sponsorship breadth, committee status, recorded votes, and cross-state momentum — a description of the observable signals, not a prediction.

Bill Text

How this bill changes current law

9 changes Share ↗

Compared against current U.S. Code AI-generated reading aid — verify against the official bill.

The bill amends the National Housing Act to increase loan limits and clarify that property improvement loans can be used for constructing accessory dwelling units.

  • 12 U.S.C. 1703

    construction of additional or accessory dwelling units, as defined by the Secretary,

    Adds the clarification that property improvement loans may be used for the construction of accessory dwelling units.

  • 12 U.S.C. 1703(b)(1)(A)

    $60,000 → $150,000

    Increases the loan limit for certain property improvements from $60,000 to $150,000.

  • 12 U.S.C. 1703(b)(1)(A)

    $23,226 → $43,377

    Increases the loan limit for certain types of loans related to property improvements.

  • 12 U.S.C. 1703(b)(1)(B)

    $12,000 → $37,500

    Increases the loan limit for a specific type of financing related to property improvements.

  • 12 U.S.C. 1703(b)(1)(C)

    $106,405 if made for the purpose of financing the purchase of a single-section manufactured home; and $195,322 if made for the purpose of financing the purchase of a multi-section manufactured home;

    Establishes specific loan limits for the purchase of single-section and multi-section manufactured homes.

  • 12 U.S.C. 1703(b)(1)(D)

    $149,782 if made for the purpose of financing the purchase of a single-section manufactured home and a suitably developed lot on which to place the home; and $238,699 if made for the purpose of financing the purchase of a multi-section manufactured home and a suitably developed lot on which to place the home;

    Establishes loan limits for purchasing manufactured homes with lots.

  • 12 U.S.C. 1703(b)(1)(H)

    such principal amount as the Secretary may prescribe if made for the purpose of financing the construction of an accessory dwelling unit.

    Allows the Secretary to set loan limits specifically for accessory dwelling units.

  • 12 U.S.C. 1703(b)(9)

    The Secretary shall develop or choose 1 or more methods of indexing in order to annually set the loan limits established in paragraph (1), based on data the Secretary determines is appropriate for purposes of this section.

    Establishes requirements for annual indexing of loan limits to reflect inflation or other economic data.

  • 12 U.S.C. 1703(b)(11)

    lease-- → unless such lease meets the terms and conditions established by the Secretary

    Clarifies conditions under which leases are applicable under this section.

Action History

  1. Introduced in Senate

  2. Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (Sponsor introductory remarks on measure: CR S1666)

Sponsors

Sponsorship breakdown

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1 sponsors · 2 co-sponsors · 544 not signed on

Sponsors (1)

Co-sponsors (2)

Not signed on (544)

544 members have not signed on to this bill.

Show all 544 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

finance housing
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

Who sponsors S 964?
S 964 is sponsored by Reed, Jack (Democratic), Lummis, Cynthia M. (Republican), and Schumer, Charles E. (Democratic).
What is the current status of S 964?
This bill is in committee in the Senate. Introduced March 11, 2025. It must pass committee before a floor vote.
Where can I track S 964?
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