Veteran Home Loans- Financing To Help Our Military Veterans Prosper & A Wealth

Written by Posted On Thursday, 14 September 2023 00:00

“The true soldier fights, not because he hates what is in front of him, but because he loves what is behind him.” G.K. Chesterton 

G. I. John decided many years ago when he started his military career that he was going to build wealth by buying real estate.  When John first started out, he bought a house in the city where he was stationed using a 100% veteran loan.  He put together a plan to get wealthy during his military career moving from station to station buying a house as his primary residence with each move and keeping the other homes for rental income. 

The challenge that threatened to shoot holes in his life plan was the fact that the more property he bought, the more specialized mortgage products he needed since his VA eligibility was limited to one or two properties. He needed an experienced mortgage loan originator who could continue to come up with additional mortgage loan programs that fit each situation, so he could continue buying properties at terms that would allow him to make money.  

G. I. John continuously built his real estate portfolio.    Since he has done so well with his rental properties, many of his houses are paid off. G. I. John retired from the military, and he doesn’t have to work anymore.  Now you can see pictures on Facebook of John and his wife regularly on cruises, on a beach, in the mountains, and in other exotic places. 

G. I. John knew how to break past common myths a lot of veterans get stuck believing, not realizing the gold mine close at hand.   But the Veteran Home Loan is not the only gold mine available.   G. I, John, used the low-down-payment FHA loan, and different variations of the conventional loan product—even cash.   

Here are some myths veterans believe about the Veteran Home Loan program that can cause them to miss opportunities. 

MYTH #1:  You can only use your VA loan eligibility once.  

TRUTH #1:  You can use your VA mortgage eligibility more than once.  You can get a loan up to 4 times the amount of whatever VA eligibility you have left on your Certificate Of Eligibility. For example, if you show $36,000 eligibility, then you are able to get up to $144,000 and if your income-to-debt ratios are acceptable enough, your eligibility can be expanded so you can get a loan up to $647,200.   But if you have only used $15,000 of your eligibility to buy your first home at $60,000, then you still have some eligibility to buy another home later when you are ready to move from the old home to the new home.

MYTH #2:  You can only have one VA loan at a time. 

TRUTH #2:  You can have more than one VA loan simultaneously depending on how much eligibility you have to cover the loans. VA mortgages are for veterans planning to use the home as their primary residence.

MYTH #3: The Veteran Loan can only be used for a single-family residence. 

TRUTH #3:  The VA mortgage can be used for a single-family home, a duplex, a tri-plex, or a quadraplex if the veteran lives in one of the units. You can buy a multi-unit property, live in one unit, and rent the other units to tenants.   In many cases, the rent from the other tenants can more than cover YOUR mortgage payment.  

MYTH #4: The VA loan cannot be assumed by anyone else. 

TRUTH #4: The VA loan can be assumed by another party subject to the lender’s approval.


Veterans getting disability compensation for  service-related medical issues are exempt from having to pay the VA funding fee that is normally added to the loan amount.   Also, surviving spouses of veterans who died in the service or from a service-related disability are also exempt from having to pay the VA funding fee and can, on a case-by-case basis, get a VA loan. 

The maximum loan amount for VA loans is $647,200 for a single-family, home but the veteran can pay the difference between a higher home price and the maximum loan amount.  

For more information about the Veteran Mortgage Program: 

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Jo Garner

 NMLS# 757308 (currently working with Sierra Pacific Mortgage, Inc Cordova, TN  NMLS # 1788 An Equal Housing Lender)

“Whatever YOUR  personal priorities are, my job is to help you get the mortgage terms that will give you bragging rights when you talk about it and help you score on  hitting your goals .”

As a mortgage loan officer, my job is to help you get to the  benefits you want from your financing terms.  What is most important to you? I can help you find the financing terms that will help you get to what you want.   What is your comfort level on a house payment? How much are you comfortable paying down,? What type of financing do you need to get the house you want to buy or refinance?

Different clients have different priorities in life—some are buying their first home with very little down payment funds.  Some are recovering from medical challenges, divorces or preparing to send children to college and some are embarking on a long term goal of buying properties to build rental income.”

Jo Garner is a mortgage officer with extensive knowledge in tailoring mortgages to her customers who are refinancing or purchasing homes all over the country.  She offers conventional, FHA, VA or other loan programs for refinancing and purchases. 

Jo can help you look at rent vs buy, when it makes sense to refinance, how to get the best deal on your home  purchase financing.  

Jo Garner  has been in the real estate/financing business for over 25 years.  She got her start in Portland, Maine where she first began her real estate career. She received her real estate education from the University of Southern Maine  and was personally mentored in San Diego, California  by Robert G. Allen, author of Nothing Down, Creating Wealth and The Challenge

On moving back to West Tennessee in 1987, she went into business buying and selling discounted owner-financed notes secured on real estate.  In 1990 Jo went to work for a residential mortgage company and has been a mortgage loan officer for over 25 years.  Her goal is to offer excellent, affordable service to her customers, tailoring the loan programs to the specific needs of her clients.  

In addition to her work in the mortgage field, Jo Garner is the primary sponsor and founder of Talk Shoppe in Memphis.

Jo Garner also host the radio show Real Estate Mortgage Shoppe airing on News Radio AM 600 WREC and iHeart Radio with podcasts and show notes published on

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Pick up her book “Choosing the Best Mortgage-The Quickest Way to the Life You Want on and .

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