Refinance Quick Questions

[Alison Keppel]

Hi everyone!

I'm a new investor, I have one short term rental, I'm coming up on owning it for a full year, and I'm gearing up to refinance. I've never refinanced a property before, so here are my questions:

1) If I closed on October 15, 2022 (for example), is October 15, 2023 the earliest I am able to refinance a conventional loan under the new rules and regs? Or is this hyper-specific and should I ask my lender about my loan/refinance conditions?

2) Do I need to go with my current lender to refinance? If not, are there companies that specialize in refinancing?

3) Appraisals are good for 90 days, correct? From your experience, do you think an appraisal will come in higher in the summer (July) as opposed to October (potential refinance date)?

4) Any strategies you recommend I implement prior to refinancing over the next couple months? (Adding minor enhancements throughout the house that will boost the value?)

Thanks in advance!!!