IIB 
108TH CONGRESS 
1ST SESSION H. R. 1257 
IN THE SENATE OF THE UNITED STATES 
MAY 22, 2003 
Received; read twice and referred to the Committee on Veterans’ Affairs 
AN ACT 
To amend title 38, United States Code, to make permanent 
the authority for qualifying members of the Selected 
Reserve to have access to home loans guaranteed by 
the Secretary of Veterans Affairs and to provide for 
uniformity in fees charged qualifying members of the 
Selected Reserve and active duty veterans for such home 
loans. 
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Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Selected Reserve Home 
Loan Equity Act’’. 
SEC. 2. PERMANENT AUTHORITY FOR HOUSING LOANS FOR 
MEMBERS OF THE SELECTED RESERVE. 
Section 3702(a)(2)(E) of title 38, United States 
Code, is amended by striking ‘‘and ending on September 
30, 2009,’’. 
SEC. 3. UNIFORM HOME LOAN GUARANTY FEES FOR QUALI-
FYING MEMBERS OF THE SELECTED RE-
SERVE AND ACTIVE DUTY VETERANS. 
(a) IN GENERAL.—Paragraph (2) of section 3729(b) 
of title 38, United States Code, is amended to read as 
follows: 
‘‘(2) The loan fee table referred to in paragraph (1) 
is as follows: 
‘‘LOAN FEE TABLE 
Type of loan 
Veteran 
Other obligor 
(A)(i) Initial loan described in section 3710(a) to purchase or 
construct a dwelling with 0-down, or any other initial loan 
described in section 3710(a) other than with 5-down or 10- 
down (closed before October 1, 2011) ....................................
2.00 
NA
(A)(ii) Initial loan described in section 3710(a) to purchase or 
construct a dwelling with 0-down, or any other initial loan 
described in section 3710(a) other than with 5-down or 10- 
down (closed on or after October 1, 2011) ............................
1.25 
NA
(B)(i) Subsequent loan described in section 3710(a) to pur-
chase or construct a dwelling with 0-down, or any other sub-
sequent loan described in section 3710(a) (closed before Oc-
tober 1, 2011) ........................................................................
3.30 
NA
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‘‘LOAN FEE TABLE—Continued 
Type of loan 
Veteran 
Other obligor 
(B)(ii) Subsequent loan described in section 3710(a) to pur-
chase or construct a dwelling with 0-down, or any other sub-
sequent loan described in section 3710(a) (closed on or after 
October 1, 2011 and before October 1, 2013) .......................
2.15 
NA
(B)(iii) Subsequent loan described in section 3710(a) to pur-
chase or construct a dwelling with 0-down, or any other sub-
sequent loan described in section 3710(a) (closed on or after 
October 1, 2013) ....................................................................
1.25 
NA
(C)(i) Loan described in section 3710(a) to purchase or con-
struct a dwelling with 5-down (closed before October 1, 
2011) ......................................................................................
1.50 
NA
(C)(ii) Loan described in section 3710(a) to purchase or con-
struct a dwelling with 5-down (closed on or after October 1, 
2011) ......................................................................................
0.75 
NA
(D)(i) Initial loan described in section 3710(a) to purchase or 
construct a dwelling with 10-down (closed before October 1, 
2011) ......................................................................................
1.25 
NA
(D)(ii) Initial loan described in section 3710(a) to purchase or 
construct a dwelling with 10-down (closed on or after Octo-
ber 1, 2011) ...........................................................................
0.50 
NA
(E) Interest rate reduction refinancing loan .............................
0.50 
NA
(F) Direct loan under section 3711 ...........................................
1.00 
NA
(G) Manufactured home loan under section 3712 (other than 
an interest rate reduction refinancing loan) ..........................
1.00 
NA
(H) Loan to Native American veteran under section 3762 
(other than an interest rate reduction refinancing loan) .......
1.25 
NA
(I) Loan assumption under section 3714 ..................................
0.50 
0.50
(J) Loan under section 3733(a) ................................................
2.25 
2.25’’. 
(b) CONFORMING
AMENDMENTS.—(1) Paragraph 
(4)(A) of such section is amended to read as follows: 
‘‘(A) The term ‘veteran’ means any veteran eli-
gible for the benefits of this chapter.’’. 
(2) Paragraph (4) of such section is amended by 
striking subparagraph (B) and redesignating subpara-
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graphs (C), (D), (E), (F), (G), (H), and (I) as subpara-
graphs (B), (C), (D), (E), (F), (G), and (H), respectively. 
Passed the House of Representatives May 21, 2003. 
Attest: 
JEFF TRANDAHL, 
Clerk. 
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