Looking to refinance my VA Loan to Conventional to free it up to get another home...is this possible to do?
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Currently have a home in GA that has been for sale now for 7 months and I transferred to TX and having a home built on a contingency that the other home sells. Trying to free up my VA as I could get the house with it right now with it.
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Answer:
Refinancing now is very difficult. Homes are not appraising for as much as is owed on the home, so banks are not loaning the money. If you can rent instead of building right away, do that instead, and wait for the other house to sell.
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