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Nick Amaro

Do you know a Veteran

Monday, January 21, 2013 - Article by: Nick Amaro - Intercounty Mortgage Network Corp. - Message

If you know a Veteran say Thank You to him or her!! or if you happen to be a Veteran....THANK YOU !!! Thank you for your Service, thank you for your Sacrifice and thank you for what you represent at home and abroad.

I recently learned that there are 22 million veterans in the USA and only 1.73 million or 7.9% have VA Home Loans, which are guaranteed by the Department of Veterans Affairs. One of the saddest statistics I learned is that 33% of Veterans did not know about their Home Loan Veteran Administration Benefit. Probably the biggest benefit after their Health Benefits.

"VA home loan guaranties are issued to help eligible Servicemembers, Veterans, Reservists, and certain unmarried surviving spouses obtain homes, condominiums, and manufactured homes....and to refinance home loans."

A VA Loan guaranty helps protect lenders from loss if the borrower fails to repay the loan......but this happens very rarely since this is a very credit conscious group.

Although VA Loans surged in fiscal year 2012, the most since 1994, the majority of Loans were for the purpose of refinancing since they can obtain an interest-rate reduction "relatively easily" per the VA.
"The department's streamlined refinance program doesn't require these borrowers to 're-prove' that they qualify -

No down payment helps on the purchase side as does no paying for mortgage insurance. Even the loan guaranty amounts help - in Florida to $417,000, and in New Jersey between $417,000 and $722,500 depending on the county where the property is located.

Individual lenders set the closing costs and the interest rates, which are currently comparable to those on conventional fixed-rate loans, in fact we at IMN are offering VA Loans at 3.25% !!

So if you know a veteran, tell him about the VA Home Loan Benefit, and let's help the continuation of the Real Estate recovery.

Nicolas Amaro
Mortgage Loan Officer #911174
Intercounty Mortgage Network, Inc
3400 Highway 35, Suite 1
Hazlet, NJ 07730
FL Cell 786 417 0004
NJ Cell 201 398 3726
Office 732 264 2700
Fax 732 862 1278

Licensed in both the State of Florida and the State of New Jersey

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