Refinancing from Conventional Loan to VA loan.

Here’s the scenario:

I have a duplex I bought with a VA loan. I’ve lived in it long enough to clear the year plus required for me to live in it. My soon to be wife has a single family home with a conventional loan on it.

After we get hitched can we refinance her conventional home loan into a second VA loan for me/us? The idea is to drop the PMI and VA loans have better interest rates on them. I still have enough entitlement to make this happen, just wondering how this would work (or if for that matter).

Further, would it be possible to go from the conventional loan to a VA-IRRRL? Or would we have to stop at the VA loan first and then the VA-IRRRL? (Which might make the IRRRL irrelevant at that point due to two closing cost fees etc.)

I’d appreciate your feedback!

submitted by /u/Drawn2NewThings
[link] [comments]

Here’s the scenario: I have a duplex I bought with a VA loan. I’ve lived in it long enough to clear the year plus required for me to live in it. My soon to be wife has a single family home with a conventional loan on it. After we get hitched can we refinance her conventional home loan into a second VA loan for me/us? The idea is to drop the PMI and VA loans have better interest rates on them. I still have enough entitlement to make this happen, just wondering how this would work (or if for that matter). Further, would it be possible to go from the conventional loan to a VA-IRRRL? Or would we have to stop at the VA loan first and then the VA-IRRRL? (Which might make the IRRRL irrelevant at that point due to two closing cost fees etc.) I’d appreciate your feedback! submitted by /u/Drawn2NewThings [link] [comments]

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