Yes you can. So long as your current home is sold, you will get the full use of your 417,000 entitlement. The advantage of going VA ove Conventional is that its 100% financing, does not allow for many of the loan origination and title fees and costs which are associated with Conventional financing, while still giving you a comparable if not lower interest rate. This of course equates to you saving thousands to 10s of thousands when it comes to making a downpayment and paying closing costs. And in this still unpredictable and sinking jobs and housing market, the more money you can keep in your pocket and savings account the better. And when it comes to doing a rate and term refinance later (lowering your interest rate and/or loan term) there is far less cost and paperwork involved in a VA loan. So, for your immediate and long term benefits and savings, VA is the way to go. Hope this helps.
the link below should provide additional info.