A bill to establish in the Department of Housing and Urban Development a direct low-interest loan program to assist low and middle-income homeowners in the maintenance and improvement of their homes, and to provide for an annual GAO audit of the housing programs of such Department to promote their more efficient administration.

Title I: Home Maintenance and Improvement Loans for Low-and Middle-Income Families - Authorizes the Secretary of Housing and Urban Development to make loans as provided in this Act to low and middle-income individuals and families owning and occupying one, two, or three-family residential structures to assist in financing the necessary maintenance or improvements of such structures through qualified repairs.

Provides that such loans shall bear interest at 3 percent.

Defines "low and middle-income individuals and families" for purposes of this Act.

Defines "qualified repairs" for purposes of this Act.

Requires the reservation of 15 percent of such loans for elderly homeowners.

Authorizes appropriations necessary to carry out this Act.

Title II: Audits of Federal Housing Programs by General Accounting Office - Directs the Comptroller General to annually audit housing and related programs of the Department of Housing and Urban Development.

Sets forth requirements for such audits.