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House Subcommittee Approves Affordable Housing Bill

WASHINGTON - The House Financial Services Housing Subcommittee, chaired by Rep. Bob Ney (R-Ohio) approved by a voice vote with no amendments a bill introduced by Rep. Gary Miller (R-Calif.) that increases affordable housing opportunities for low-income families. H.R. 1985, the FHA Multifamily Loan Limit Adjustment Act of 2003 would...

By Staff Writer | Updated on July 29, 2003

WASHINGTON – The House Financial Services Housing Subcommittee, chaired by Rep. Bob Ney (R-Ohio) approved by a voice vote with no amendments a bill introduced by Rep. Gary Miller (R-Calif.) that increases affordable housing opportunities for low-income families. H.R. 1985, the FHA Multifamily Loan Limit Adjustment Act of 2003 would allow HUD to further increase multifamily mortgage loan limits for FHA insured properties in high-cost areas. The current loan limits are 110%. The measure raises the limits to 170% above their base loan limits.

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