Generally speaking, most banks that offer conventional loans require a borrower to own the home for at least 6 months prior to refinancing the home. If six months have passed and the value of your home is appraised at the amount you mentioned, typically, most banks will allow you to borrow up to 80% of the value. It is unlikely that a lender will let you borrow up to 100% of the value of the home. However, you must keep in mind that underwriting guidelines for most major mortgage lenders change frequently. In other words, these general guidelines are not set in stone, and they may be different when you have reached six months of home ownership.
To learn more about refinancing I encourage you to visit the Bills.com resource page Refinance My Home.
Get no-cost, online mortgage refinance quotes from up to four prequalified lenders.
I hope this information helps you Find. Learn & Save.