Cash out refinance or leave as is

[Raymond Bachmann]

Hey y'all,

I've been speaking with my lender and he can help me refinance my home with another VA loan and cash out $50k, which I told him would go towards a down payment on a new property in a year and I would rent out my old home. My main concern is this: if I refinance, I can have the $50k for the down payment on the new home but the mortgage payment would increase to a point that I do not feel that it would cash flow out too well. I am debating this method: choosing not to finance and rent out my current home and use a VA/FHA loan for the new home but I would have less to put down upfront, or doing the refi. Would like some thoughts from people more experienced.

Cheers!