The House voted to raise the VA loan ceiling.
On a 398-0 vote, the House agreed to boost the Veterans Administration’s home loan guarantee ceiling for the second time this year to help the program keep up with the heavy demand for mortgages. The ceiling will go to $38.3 billion from $17.4 billion. VA officials had warned Congress that the agency would reach the $17.4-billion ceiling by June 1. The Senate voted May 6 to raise the ceiling to $30.9 billion, but it is expected to accept the higher amount passed by the House.
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