Lenders almost always correlate values to the purchase price for six months. This means that buyers need to wait six months before they can have their property appraised for a value higher than the purchase price for the purpose of refinancing. Some lenders require a full year of seasoning.
Lenders will make an exception if buyers make significant home improvements that can be documented.
Jay Voorhees
Founder/Broker | JVM Lending
(855) 855-4491 | DRE# 1197176, NMLS# 310167