To amend title 38, United States Code, to adjust certain limits on the guaranteed amount of a home loan under the home loan program of the Department of Veterans Affairs.

Bill: 114-hr-1187
Sponsor: full_name: Rep. Zeldin, Lee M. [R-NY-1]
Introduced: 2015-02-27
Policy area: Armed Forces and National Security
Subjects: Government lending and loan guarantees

Housing finance and home ownership

Veterans' loans, housing, homeless programs
Latest action: action_date: 2015-04-16
text: Forwarded by Subcommittee to Full Committee by Voice Vote .

Summaries:
action_date: 2015-02-27
action_desc: Introduced in House
text: <p>Changes the maximum amount of a veteran's home loan of more than $144,000 that is guaranteed by the Department of Veterans Affairs to 25% of the loan amount.</p>

tv_txt: I 114th CONGRESS 1st Session H. R. 1187 IN THE HOUSE OF REPRESENTATIVES February 27, 2015 Mr. Zeldin (for himself, Mr. Takano , and Ms. Lofgren ) introduced the following bill; which was referred to the Committee on Veterans’ Affairs A BILL To amend title 38, United States Code, to adjust certain limits on the guaranteed amount of a home loan under the home loan program of the Department of Veterans Affairs.

1. Amount of loan guaranteed under home loan program of Department of Veterans Affairs (a) Adjustment of loan limit Section 3703(a)(1) of title 38, United States Code, is amended— (1) in subparagraph (A)(i)(IV)— (A) by striking the lesser of ; and (B) by striking or 25 percent of the loan ; and (2) in subparagraph (C), by striking Freddie Mac and all that follows through the period and inserting amount of the loan. . (b) Effective date The amendments made by this section shall apply with respect to a loan guaranteed under section 3710 of title 38, United States Code, on or after the date that is 30 days after the date of the enactment of this Act.