VA Loan Refinance to Conventional

[John Philip Eugenio]

Good evening everyone,

My rental property is currently under VA Loan and I would like to refinance to Conventional Loan to fully free up my VA Loan to purchase my primary residence.

This rental has approximately $200K equity. Do I still need to put 20% downpayment to refinance from VA to Conventional Loan? Since the house has more than equity.

The goal is to purchase a primary home, and use my cash as a downpayment to purchase another investment property.

Just exploring different ways to take advantage of the VA Loan and ways for creative financing.

-John

[Caroline Gerardo]

Single family rental refinance cash out less than $2000 you can get 80% loan to value on conforming or high balance loan for San Diego county 2022 that's $879750. Ii will be expensive as non owner/investor loans have big pricing adds. 

Say it's worth $750000 you can borrow $600000. You need to have an idea what the house will appraise for to know if there is enough equity.