Cash Out Refinance Question

[Brian Mackey]

Hello,

I've been living in my house hack for a year now. It's a home that has an ADU in the back.

The ADU is about 600 sqft and needed a complete remodel.

We remodeled it and have been living in it while we AirBnB the front.

I’m thinking now is a good time to get a cash out refinance, as I believe the forced appreciation is substantial.

What kind of steps do I have to do to get a cash out refinance?

Is it as simple as calling up my original lender and discussing it with them? How long does it usually take? Are the interest rates worse for a cash out refinance vs a traditional refinance? What about the closing costs?

Any assistance is appreciated.