Cash out refinancing after 6 months on a financed home

[Ozzie Konar]

Hi everyone;

I recently bought a 2 family investment home with 25% down payment. 

I am planning to buy 2 more properties in 2015. 

Will I be able to refinance this home, in 6 months for a cash out? 

Thanks

[Grant Smith]

When you do a cash out refinance, or any refi, the lender will require an appraisal done to accurately assess current market value. If after you purchased the home 6 months ago, you either put sweat equity into it (rehab), or your property has appreciated. Now we are only talking 6 months, but maybe in your luck new sales in the area have offered higher comps to help your homes appraisal! 

The 75% LTV will be based on the new appraisal value, not the price you purchased the property as.