Free Up VA Loan // Refinance

[James Letchford]

I currently have a Jumbo VA Loan on my primary residence. We're considering moving within the next four to six months and would like to be in a position to purchase another home where we're going. Our current home will cash flow if we rent it out and we're willing to rent where we're going until we find the perfect home.

Here are my questions:

1. What's the best way to free up my VA Loan so I can purchase for little to no down payment?

2. Is there a way to leverage a refinance with a traditional 30yr fix, ARM, or another product that will allow us to purchase with another jumbo loan at our destination?

3. Should we rent our current residence out now, under our VA loan, and then refinance at a later date?

4. Should we refinance immediately in some product before our move in 4-6 months?

Thanks in advance for your thoughts and time.