WASHINGTON, D.C. – Today, Congressman Andy Barr (KY-06) introduced the Affordable Homeownership Access Act with Congressman Vicente Gonzalez (TX-15).

This bill seeks to provide working families with another access point to the home buying process by providing relief to individuals and small businesses so that they can sell their homes directly to a buyer without the fees associated with being a mortgage originator.

The United States is facing a homelessness crisis and the lack of affordable housing is a major contributor to that problem. Home loans below $200,000 are scarce and significantly more so at the $100,000 price point.

Bipartisan Support

“The Affordable Homeownership Access Act is a critical step towards providing a pathway to homeownership for hardworking Americans. By reducing barriers and streamlining processes, we empower individuals and families to achieve their dreams of owning a home,” said Congressman Barr. “This legislation not only addresses the housing and credit challenges faced by many, but also ensures that vital consumer protections are upheld. I am proud to champion this initiative, as it promotes economic mobility and strengthens our communities.”

“Homeownership is a vital pillar to building strong communities and generational wealth. I am proud to join Congressman Barr to re-introduce the bipartisan Affordable Homeownership Act, which will increase opportunities for South Texans to achieve the American dream,” said Congressman Gonzalez. “This bill offers another path to homeownership through seller financing, a flexible option that can meet the needs of working-class families without forfeiting critical consumer protections.”

The Role of Seller Financing

“The Seller Finance Coalition is excited that the “Affordable Homeownership Access Act” is being introduced by Congressman Andy Barr as a bipartisan solution to the ongoing home ownership and affordability crisis. Home ownership is a vital aspect of families building wealth. Seller financing provides greater access to capital and affordable homeownership opportunities to underserved consumers as well as underserved communities across the nation. This bill will provide the opportunity for an 8-fold increase in the capital available to underserved yet worthy aspiring homeowners.  For generations, seller financing has been a vital mechanism for working class and minority family’s purchasing homes and has allowed thousands of families who would not otherwise be able to own their own home the opportunity to achieve the American dream of homeownership. The private capital provided by seller financers can help solve the affordable homeownership crisis without any cost or risk to the taxpayers.” Bob Repass and Jeff Watson, Co-Founders, of the Seller Finance Coalition.

This bill would allow real estate owners to engage in seller financing, expanding lending options for homebuyers within their affordable price range, all while preserving important consumer safeguards. Seller financing facilitates transactions that abide by the real estate and consumer protection laws of each state, as well as state and federal fair housing and equal opportunity laws. This initiative aims to enhance accessibility for both sellers and buyers while upholding necessary regulatory frameworks.

The “Affordable Homeownership Access Act”

The solution to the affordable housing crisis that empowers home buyers and home sellers to create options that work for their situations.

Help Us Help Our Communities

  • Take Action by Urging Your Representatives to Support H.R. 3464

  • Donate to Support the Continued Efforts to Make Homeownership More Accessible

  • Join the Seller Finance Coalition and Amplify Our Voices