1. Short title This Act may be cited as the Property Improvement and Manufactured Housing Loan Modernization Act of 2024 . 2. National Housing Act amendments (a) In general Section 2 of the National Housing Act ( 12 U.S.C. 1703 ) is amended— (1) in subsection (a), by inserting construction of additional or accessory dwelling units, as defined by the Secretary, after improvements, ; and (2) in subsection (b)— (A) in paragraph (1)— (i) by striking subparagraph (A) and inserting the following new subparagraph: (A) $75,000 if made for the purpose of financing alterations, repairs and improvements upon or in connection with an existing single-family structure, including a manufactured home; ; (ii) in subparagraph (B)— (I) by striking $60,000 and inserting $150,000 ; (II) by striking $12,000 and inserting $37,500 ; and (III) by striking an apartment house or ; (iii) by striking subparagraphs (C) and (D) and inserting the following: (C) (i) $106,405 if made for the purpose of financing the purchase of a single-section manufactured home; and (ii) $195,322 if made for the purpose of financing the purchase of a multi-section manufactured home; (D) (i) $149,782 if made for the purpose of financing the purchase of a single-section manufactured home and a suitably developed lot on which to place the home; and (ii) $238,699 if made for the purpose of financing the purchase of a multi-section manufactured home and a suitably developed lot on which to place the home; ; (iv) in subparagraph (E)— (I) by striking $23,226 and inserting $43,377 ; and (II) by striking the period at the end and inserting a semicolon; (v) in subparagraph (F), by striking and at the end; (vi) in subparagraph (G), by striking the period at the end and inserting ; and ; (vii) by inserting after subparagraph (G) the following: (H) such principal amount as the Secretary may prescribe if made for the purpose of financing the construction of an accessory dwelling unit.