21st Century Housing Act

21st Century Housing Act - Amends the Housing Act of 1948 to authorize the Secretary of Housing and Urban Development (HUD), in carrying out any program through the Federal Housing Administration (FHA) to: (1) appoint and fix the compensation of Administration personnel; and (2) use premium-generated income for information technology upgrades.

Amends the National Housing Act to: (1) extend the maturity term for insured mortgages; (2) revise mortgage insurance eligibility criteria and requirements for premium charges; (3) authorize waiver of certain requirements for new product initiatives; (4) increase the maximum mortgage amount limit for multifamily housing in high-cost areas; (5) increase the FHA single family housing maximum mortgage limit; and (6) increase the capital ratio for the Mutual Mortgage Insurance Fund.

Increases prerequisites for insured mortgages covering condominiums to require that the condomium project have a HUD-insured blanket morgage.