How soon can i cash out refinance after Loan and buy a house

[Michael Tng]

I needed to buy a house for $500 and they required cash. I had 300k so I did a private loan of $200k at 8% rate. It is been 2 month since I bought this house. 

I talked to my mortgage agent today and She said since I recently buy a house if i refinance i can only refinance for 200k. 

If i want to cash out refinance for more than $200k I will have to wait for 6 month since the day I bought the house. 

I wonder how accurate is that information since I think she want me to go with a lender that give her a higher % commission. 

Thanks you. 

[Ham Merritt]

@Jay Hurst @Joshua Diaz @Robert Schumacher @Michael Tng I just ran into this yesterday and verified it with our compliance team...FHA-Rate Term-No Seasoning Requirement, FHA-Cash Out-12 Months, Conventional-Rate Term-No Seasoning Requirement, Conventional-Cash Out-6 Months. You might want to consider a rate/term @ 8% in interest. That is about double a conventional loan.