Asking for help with Strategy.

[Josh Williams]

We currently own our first home, purchased at 108k and paid down to 101k after 4 years. It has appraised close to 150k. I am currently using a VA loan and have disability exempting from funding fees. I am constantly bombarded with VA refi offer letters that look incredibly tempting with a 100% cash out option through certain underwriting companies. My current lender will only offer 90%, but I feel comfortable with them since I have banked with them for years.

First question- Is there any caution tape I should be aware of with these 3rd party lenders sending me offer letters in the mail? Should I stick with what is familiar?

First time investment Options:

A) Sell and reinvest the gains through a FHA into a property and reuse my VA for a primary residence. (1 investment property)

B) Refi through either lender, rent current property, resuse VA for primary, and invest the gains through FHA into another property. (2 investment properties)

This current property is a great first home and would hate to see myself lose future profits for fear of the unknown by just selling and starting fresh. Thank you in advance for input!

Josh Williams

Correctional Officer

Army Veteran.