Lennar Corp. (LEN  ) and Taylor Morrison Home Corp (TMHC  ) are reportedly working on a plan to develop one million "Trump Homes" amid President Donald Trump's affordable housing push. Under the proposal, builders would build "entry-level" homes into a "pathway-to-ownership" program financed by private investors, reported Bloomberg on Tuesday. As per the initial version of the program, the homes would be rented to tenants and after three years, the monthly rents would be converted to a down payment if they wish to purchase the home, the report said.

The size of the program depends on the willingness of more builders to join in. However, the tentative aim is to deliver $250 billion worth of housing. The initial losses would be borne by the private investors, according to the report.

The proposal was pitched to the Trump Administration in 2025 and finer details are still being refined, the publication said.

On Tuesday, Lennar Corp Stock closed 3.43% higher at $112.53, while Taylor Morrison climbed 3.13% to close at $63.57.

Lennar and Taylor Morrison did not immediately respond to Benzinga's request for comment.

Trump's Housing Affordability Push Draws Mixed Response

In the past months, Trump increased focus on addressing the housing affordability issue. In January, he signed an executive order to curb institutional buyers on Wall Street from acquiring single-family homes, to make house purchase affordable for first-time buyers and young families.

The president also stated that Fannie Mae and Freddie Mac now hold about $200 billion in cash and revealed his plans to direct the purchase of $200 billion in mortgage bonds to bring down mortgage rates, lowering monthly payments.

Opendoor Technologies Inc. (OPEN  ) CEO Kaz Nejatian praised Trump's housing affordability push and stated he is doing an "excellent" job. However, Economist Peter Schiff criticized the proposals, saying that only lowering home prices can make housing affordable in the U.S.