I
108th CONGRESS
2d Session
H. R. 4065
IN THE HOUSE OF REPRESENTATIVES
March 30, 2004
Ms. Ginny Brown-Waite of Florida introduced the following bill; which was referred to the Committee on Veterans’ Affairs
A BILL
To amend title 38, United States Code, to increase the maximum amount of home loan guaranty available to a veteran, and to provide for annual adjustments to such amount.
Short title
This Act may be cited as the &short-title1;
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Increase in, and annual indexing of, maximum amount of home loan guaranty for construction and purchase of homes
Maximum loan guaranty based on 90 percent of the Freddie Mac conforming loan rate
Section 3703(a)(1) of title 38, United States Code, is amended by striking $60,000
each place it appears in subparagraphs (A)(i)(IV) and (B) and inserting the maximum guaranty amount (as defined in subparagraph (C))
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Definition
Such section is further amended by adding at the end the following new subparagraph:
In this paragraph, the term maximum guaranty amount
means the dollar amount that is equal to 22.5 percent of the Freddie Mac conforming loan limit limitation determined under section 305(a)(2) of the Federal Home Loan Mortgage Corporation Act (12 U.S.C. 1454(a)(2)), as adjusted for the year involved.
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