Yes, you can refinance after 6-12 months of "seasoning." At that time, however, you will need to have a new appraisal conducted & you are "at the mercy" of the opinion of THAT appraiser.
And, remember, it is quite expensive to refi, so it might not be worth it for a bit more Cash Out. It might be best to enjoy equity & the security of your home value.
Excel spread sheet could assist you compare "apples to apples"
WAY TO GO with 9% discount !
National Featured Realtor and Consultant, Texas Mortgage Loan Officer, Credit Repair Lecturer
Follow me on Twitter: http://twitter.com/Lynn911