A bill to amend the National Housing Act to increase the maximum mortgage amounts insurable in the case of property located in Alaska, Guam, or Hawaii, and to amend section 5(c) of the Home Owners Loan Act of 1933 to authorize an increase in the principal amount of mortgages on properties in Alaska, Guam, and Hawaii to compensate for higher prevailing costs.

Provides, under the National Housing Act, that the Secretary of Housing and Urban Development may increase the maximum mortgage amounts insurable for the construction of dwellings and mobile home courts in Alaska, Guam and Hawaii where cost levels so require by more than 100 percent thereof.

Revises the requirements of a mortgage in determining eligibility for insurance under the National Housing Act.

Authorizes, under the Home Owners Loan Act, an increase in the principal amount of mortgages on properties in Alaska, Guam and Hawaii. (Amends 12 U.S.C. 1715(d), 1709(b))