I 108th CONGRESS 2d Session H. R. 4345 IN THE HOUSE OF REPRESENTATIVES May 12, 2004 Ms. Ginny Brown-Waite of Florida (for herself and Mrs. Davis of California) 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 under the home loan guaranty program of the Department of Veterans Affairs, and for other purposes.

1.

Increase in, and annual indexing of, maximum amount of home loan guaranty for construction and purchase of homes

(a)

Maximum loan guaranty based on 100 percent of the Freddie Mac conforming loan rate

Section 3703(a)(1) 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)). (b)

Definition

Such section is further amended by adding at the end the following new subparagraph: (C)In this paragraph, the term maximum guaranty amount means the dollar amount that is equal to 25 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)) for a single-family residence, as adjusted for the year involved..