Advice on VA Loan Refinance

[Janet Saucedo]

Good Evening,

I was hoping I could get advice regarding my VA loan. I am a veteran who is currently deployed as a civilian contractor. Since I am living overseas due to work, I am not living in my home. I plan to stay overseas for at least two more years and I would like to rent out my current home. Since it is a VA loan I know I cannot rent it out. I would like to do everything the right way and refinance the loan into a different type of loan where I am able to rent out the home since I am gone.

My question is, What type of loan should I refinance into that would also help me by giving me some type of line of credit to get approved for a rehab loan to buy an investment property?

I would like to refinance into a loan where I will not have to put anything down for my current home (have owned since NOV2018) and I will put cash down for the rehab property loan. What would be my best option?