Going from VA Loan to Conventional
I want to hear BP's thoughts on the following: I've used my VA home loan for my 2nd home. I am currently refi my 1st home (from VA to conventional) & will rent it out. The thought came to mind to get a 3rd home using my VA. To my knowledge, I have 60 days to move into it as my primary residence. My thought is refi that 3rd home to a conventional loan with 30days of the purchase, then rent it out. By doing this refi on the 3rd home, I should not have to move into it pending the lender's guidelines. I already plan to check with my lender & ask him this same question. Essentially, i'm freeing myself from the VA loan to use again later on while minimizing the downpayment on a future home. If I pursue this course, I am operating within the guidelines but wanted to get a sanity check from those more season in this area than myself.