Refinance and new loan

[Zachariah Hays]

Hey everyone,

I have been house hacking in a duplex for just about 6 months now. I am slowly finishing some projects as I live in one unit. The other unit has been rented since April.

My question is, I’d like to do a refinance to lower my interest rate as well as try and capitalize on a cash out refi to put towards my next purchase.

I plan on looking for a new property once I’ve been here for 1 year (March 2020).

Should I do the refinance this year (2019) and apply for new loan in April of 2020? Or can I do the refi and the new loan within the same year?

Thanks in advance!