maximum mortgage amount and maturity under title i of the national housing act

maximum mortgage amount and maturity under title i of the national housing act Sec. 306. (a) The first sentence of section 2(b) of the National Housing Act is amended— (1) by striking out “$10,000” the first time it appears in clause (1) and inserting in lieu thereof “$15,000”; and (2) by striking out “twelve years” in clause (2) and inserting in lieu thereof “fifteen years”. (b) Section 2(b) of such Act is amended by striking out “$12,500 ($20,000” in clause (1) and inserting in lieu thereof “$16,000 ($24,000”; and by inserting the following before the semicolon at the end of the proviso in clause (2): “(twenty-three years and thirty-two days in the case of a mobile home composed of two or more modules)”. (c) Subparagraph (B) of the second paragraph of section 2(b) of such Act and subparagraph (B) of the third paragraph of such section 2(b) are each amended by striking out “twenty years” and inserting in lieu thereof in each case “twenty-three years”. (d) Section 2(b) of such Act is amended by adding at the end thereof the following new undesignated paragraph: “Because of prevailing higher costs, the Secretary may, by regulation, in Alaska, Guam, or Hawaii, increase any dollar amount limitation on mobile homes or mobile home lot loans contained in this subsection by not to exceed 40 per centum.”.