Making Condos Safer and Affordable Act of 2026

The Making Condos Safer and Affordable Act of 2026 expands federal mortgage insurance options for condominium projects to help finance repairs and replacements of shared facilities like roofs, elevators, and common areas. It allows the governing body of a condominium to take out loans secured by future mandatory payments from individual unit owners, with the government potentially insuring up to 90 percent of the project cost. Additionally, the bill modifies existing rehabilitation loan programs to let individual condo owners use these funds to pay for special assessments related to building improvements or to build reserves for future maintenance. The legislation also streamlines regulations for managing these rehabilitation projects and adjusts loan limits to better reflect the costs of such repairs.