Here are two links for you to check and see if the loan is owned by FNMA or FHLMC. If it is you can refinance to at least 105% and maybe 125% But there are MANY restrictions on these loans. Does it have MI etc. When did you buy the house. Do you have a second mortgage etc?
Check these websites, it's the first step. http://www.fanniemae.com/loanlookup/
If it's no on here then call your lender to ask. It's easy to ask them as well. They get the call all the time. I have seen the websites be wrong on occasion. You may wish to contact your current lender on a refinance also whether the loan is owned by FNMA or FHLMC or not. FHA is cappped at 97.75% for what you want to do not 85% That is the limit for cash out. Don't wait around these guidelines are getting tougher every day so if you have a borderline case get it in now before you miss the chance at these low rates. Hope this helps let me know if you have a follow up question.