Looking to refi a rental property to help purchase a home

[Alfredo Limon]

Hi everyone,

Im in the process of finishing up my time in the military and will be moving back home to TX. I currently have one rental home in the same town I will be moving to, and was thinking of possibly refinancing it to help purchase a home for my family. I would use the VA loan, but I already used it about 15 months ago to buy a house in CA where I'm stationed (I will be turning that home into a rental property as well). Is refinancing a rental home a good move to make to help buy a house for us? I currently owe about 94,000 and it's valued at about 130,000. Just started researching to see if this is an option, and if so, is it a good option. Thanks in advance.