Timeline to refinance? What are the rules?

[Stephanie Foster]

Hello!

My mortgage broker that I have worked with in the past told me that I needed to wait a year to get my property refinanced out of my FHA loan. I did a 203k loan and put $140k into the property and pretty sure I have at least 20% equity in it and want to get out of my PMI. Long story short, I was under contract for 6 months and pretty sure my appraisal came back Fall 2016... so if my apprasial is over a year old, do I still have to wait three more months to refinance?

I am really not that impatient, I just have other strageties up my sleeve that I am trying to execute and this is holding me from moving forward! Any information or guidelines within loans would be helpful!