Affordable Housing Preservation and Protection Act of 2026

The Affordable Housing Preservation and Protection Act of 2026 authorizes the Department of Housing and Urban Development (HUD) to provide low-interest capital assistance to owners or approved purchasers of distressed multifamily housing projects. These loans, which carry a fixed interest rate of 1 percent, are intended to fund necessary physical improvements that address safety, accessibility, or structural deficiencies in properties at risk of becoming obsolete or economically unviable. To qualify for this financial support, recipients must commit to maintaining the units as affordable housing for 30 years and generally secure at least 20 percent of the total project costs from non-federal sources. The bill also grants HUD the authority to modify or forgive portions of these loans if doing so helps preserve the long-term affordability of the housing stock.