The House bill, H.R. 1427, would allow higher-cost areas a new limit that would be the lower of either the median area home price or 150% of the current limit — that equates to $625,500, which is the current limit in Alaska, Hawaii, Virgin Islands and Guam.
The Senate bill is similar but the increase would only be for the year after it was enacted.
www.ofheo.gov/media/research/MMNOTE11108.pdf
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