VA IRRRL hacking question???

[David Moore]

I'm a veteran that is currently under a VA Mortgage Loan for my primary home. Right now I'm in the process of acquiring a VA IRRRL for my current house to lower my payments. Can I utilized a VA loan to get another primary residence? Basically, I want to move into a bigger property using a VA loan again and rent my home that I currently reside in. Is there any rules against this VA mortgage/refinancing hack strategy?

Also, what's the best way to look for another lender? How eligible am I for another VA Loan to look for another property while I have this mortgage? Is it difficult to get another mortgage? Keep in mind: great credit score, good career in a state agency, but in high cost California.

Thanks All,

David