HOME Expansion Act

Key Points

• This bill allows smaller towns and rural areas to use federal housing money for basic infrastructure like water lines, sewers, sidewalks, and roads. Currently, this money is mostly restricted to building or fixing the houses themselves. To use the funds this way, the infrastructure must be built right next to affordable housing projects.
• It raises the price limit for what counts as an affordable home. Right now, homes must cost less than 95% of the average price in the area to qualify for certain federal help. This bill bumps that limit up to 110%, which helps more people buy homes in areas where prices are rising quickly and few cheap houses are available.
• The plan creates special rules for military families. If a service member is deployed or moved to a new base, the bill allows the government to waive certain income rules. This ensures they do not lose their housing benefits or status while they are serving away from home or moving for their job.
• It helps families keep their homes after a loved one passes away. If someone inherits an affordable home and lives in it as their main residence, they can keep the affordable housing status as long as they take over the previous owner's responsibilities. This prevents families from being forced out of their homes during a difficult time.
• The bill also supports shared equity programs, like community land trusts. These programs help keep homes affordable for the next buyer instead of letting the price skyrocket after the first person sells. This ensures that the community continues to have affordable options for many years to come.