H.R.4345 - To amend title 38, United States Code, to increase the maximum amount of home loan guaranty available under the home loan guaranty program of the Department of Veterans Affairs, and for other purposes.108th Congress (2003-2004)
|Sponsor:||Rep. Brown-Waite, Ginny [R-FL-5] (Introduced 05/12/2004)|
|Committees:||House - Veterans' Affairs | Senate - Veterans' Affairs|
|Latest Action:||Senate - 06/24/2004 Received in the Senate and Read twice and referred to the Committee on Veterans' Affairs. (All Actions)|
This bill has the status Passed House
Here are the steps for Status of Legislation:
- Passed House
Summary: H.R.4345 — 108th Congress (2003-2004)All Information (Except Text)
Passed House without amendment (06/23/2004)
(This measure has not been amended since it was introduced. The summary of that version is repeated here.)
Amends Federal veterans' benefits law to revise the maximum amount of home loan guaranty available under the home loan guaranty program of the Department of Veterans Affairs, specifically the guaranty of any loan of more than $144,000. Replaces the current formula of the lesser of $60,000 or 25 percent of the loan with the lesser of a certain maximum guaranty amount or 25 percent of the loan.
Defines maximum guaranty amount as the dollar amount equal to 25 percent of the Federal Home Loan Mortgage Corporation (Freddie Mac) conforming loan limit limitation determined under the Federal Home Loan Mortgage Corporation Act for a single-family residence, as adjusted for the year involved.