Speak with a lender and tax professional before proceeding to make sure you understand what your situation will be like if you decide to go this route.
Best of luck.
If you want to use new appraised value, assuming higher than purchase price, then at least 12 months from date of purchase.
You may be better off with an equity lender (hard money) for the interum, so you can perhaps refinance anytime and without the cash out fees and restrictions associated with a cash out refi.
Community banks and portfolio lenders will have their own specific criteria.
Your best bet is to contact a local and trusted mortgage company who can prequalify you at no cost an dlet you know if there are any programs you will quailify for, what their seasoning is, what their rates and closing costs are.
good luck with working things out
I am not aware of any banks that will loan you the money without a six-month wait period after the cash transaction closed escrow. Hope that helps. M. Kay DeRight, Evergreen Realty & Loans