Refinancing my house

[Joseph D Chapman]

Hello!

We are getting ready to do a refinance, we bought our house about 6 years ago and we bought the worst house in the nicest neighborhood we could afford. 3 years into living there we did a refi and got a VA loan. (I was not eligible for the VA loan when we first bought the house) now we are getting ready to but our first duplex or bigger (hopefully bigger) and we are doing a refi on our current home to free up my VA so we can buy with no money down. Is this smart?

Also I would like to do a cash out refi because I was hoping to get the money we put into the house when we fixed it up, back out. Is this a good idea?

We paid 213k when we first bought it. We refi it and the new loan was 280k. Now I want to do another refi and was hoping to do so at 380k we are very close to that number.