[Congressional Record Volume 140, Number 98 (Monday, July 25, 1994)]
[Extensions of Remarks]
[Page E]
From the Congressional Record Online through the Government Printing Office [www.gpo.gov]


[Congressional Record: July 25, 1994]
From the Congressional Record Online via GPO Access [wais.access.gpo.gov]

 
             HOUSING AND COMMUNITY DEVELOPMENT ACT OF 1994

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                               speech of

                          HON. PETER HOAGLAND

                              of nebraska

                    in the house of representatives

                         Friday, July 22, 1994

       The House in Committee of the Whole House on the State of 
     the Union had under consideration the bill (H.R. 3838) to 
     amend and extend certain laws relating to housing and 
     community development, and for other purposes:

  Mr. HOAGLAND. Mr. Chairman, today I would like to express my support 
for H.R. 3838, the Housing and Community Development authorization 
which includes a provision that increases the FHA base loan limit. The 
base limit has not been raised since 1979 and it is a long overdue 
opportunity for young families across the Nation.
  Increasing the base loan limit would allow approximately 480,000 
additional households to qualify for an FHA loan in Nebraska alone. 
This is an incredible opportunity for middle class families who may 
exceed the limit to qualify for an FHA loan at the current levels, but 
who do not qualify for conventional loans. In the Second Congressional 
District of Nebraska, the median price of a home is reaching the 
$100,000 price range. Increasing the base loan limit can only help 
those families in my district where one or two individuals are working 
hard to afford an investment in a home.
  The Housing and Community Development authorization bill helps the 
poor as well as the working middle class, and I urge my colleagues to 
support the bill, including the increase in the FHA base loan limit.

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