VA and Refinance idea

[Michael Woods]

Do you ever feel like you have an amazing idea and think there is no way someone else hasn't thought of this already? Well, that's where I'm at right now. So I am a veteran and I am eligible for a VA Home loan. This will get me into a loan with no money down but I have to intend to live there within a year of purchase. My crazy idea is to refinance the loan to a non-VA loan. Then I could house hack or BRRRR the property. I would then get my VA Home loan eligibility back and I could use it again. What I'm looking for is someone telling me why this won't work.