Refinance Exisitng owner occupied loan to conventional loan

[Juan Ayala]

BP Family

Looking for some advice on my current situation. I have a SFH in Los Angeles that I purchased as my primary home, Sep 2016. I purchased it using my VA loan for about $325,000. I now have military orders moving me to San Diego and want to use my VA loan but do not have enough left for a property in San Diego. So I am thinking about refinancing my home in Los Angeles into a conventional loan in order to release my existing VA loan. I have roommates in my Los Angeles home with leases, and make $3,400 in rent and only pay $1,800 in my current mortgage. I have leases and proof of rental income. I understand my interest rate might be higher if I re-fi this home, but need that VA loan to get a jumbo loan in San Diego. At the moment the property is valued at least $400,000 and my current note is $326,000. Based on my scenario what do you guys think is my best option? You suggest any other options? Thoughts please? Thanks BP Family.