Refinancing a VA loan

[Mark Douglas Hukill Jr.]

I am about to go through with using a VA loan to finance a 3-plex. I am going to do some renovations to it and I am thinking about possibly refinancing after owning it for a while, maybe a year or two. The reason being I might want to use the VA loan on a different house once I have some equity on this current one.

Has anyone tried to refinance a VA loan with a conventional loan? If so please let me know how hard it was and how long you needed to wait. Thanks

[Nicholas Covington]

@Mark Douglas Hukill Jr.

Yes people do it all the time. The hard part is you might have a hard time finding someone to refinance it as a primary property. If your goal is to free your entitlement then that's obviously because you plan to move and not owner occupy the home. Switching it to an investment conventional loan would probably be what would have to happen. But yes people refinance out of their VA loan all the time in order to do just that. Make sure you already exhausted your second tier entitlement first though. I would try to stay in your VA loan if possible.