S. 3646 seeks to modify the Housing Act of 1949. The bill aims to increase the term length of rural housing site loans from two years to five years. It also clarifies that these loans can be used for various activities related to land development, including surveying,...
Simple Explanation
S. 3646 is a new rule that makes changes to how long people can take special loans to build homes in the countryside, letting them take up to five years instead of two. It also tells them that they can use the loan money for things like planning and drawing the houses, but everyone needs to be careful to not spend too much or too slowly.