PlainBillCongress, translated.Legislation. Context. Public interest.Read twice and referred to the Committee on Veterans' Affairs.
Congressional Research Service
Version 00 · Introduced in Senate · Jun 5, 2008
Helping Our Veterans to Keep Their Homes Act of 2008 - Increases from 90% to 100% of the reasonable value of a veteran's dwelling or farm residence the amount of the loan to be guaranteed or made in the case of a loan to refinance certain loans.
Prohibits collecting a fee from a veteran for a housing loan, unless the loan is used to refinance indebtedness. Changes the loan fee for such loans to 1% of the total amount of the loan guaranteed, insured, or made, or in the case of a loan assumption, the unpaid principal balance of the loan on the date of the transfer of the property.
Extends the demonstration projects involving: (1) adjustable rate mortgages through FY2018; and (2) hybrid adjustable rate through FY2012.
Showing the opening paragraphs of the official summary.
Increases the maximum loan guaranty amount of the Federal Home Loan Mortgage Corporation (Freddie Mac) conforming limit limitation determined for a single-family residence, as adjusted for the year involved.
Directs the Secretary of Veterans Affairs to review and streamline the process of guaranteeing home loans for the purchase of a condominium.
Increases the maximum guaranty amount for certain refinanced loans or other liens.
Sets, for a veteran whose income is below an amount set by the Secretary, the maximum amount of guaranty entitlement available for a home loan in any amount at the greater of: (1) the guaranty amount for veterans whose income is not below such amount set by the Secretary; or (2) 30% of the loan.
People & committees
Sen. Snowe, Olympia J. [R-ME] · R–ME
Legislative record
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Read twice and referred to the Committee on Veterans' Affairs.
Sponsor introductory remarks on measure. (CR S5210-5211)
Introduced in Senate
Primary sources
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Source last updated: Aug 14, 2025. Consult Congress.gov for the current record.
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