Can I cash-out refinance faster than 6 months in New York?

[Glenn Smits]

I’m looking to cash out refinance my second deal. My first one worked out well but I want to do this one faster. My lender told me that I had to own the house for 6 months before we could refi it. 

This second one has a tenant in there already, I’m going to fix a few things and would love to get the cash out in more like 4 months. I’m in New York state and this is a single family rental home. Am I stuck waiting for 6 months?

[Tarik Turner]

you can refi immediately but it may not be at the appraised value 

It's usually purchase price plus whatever documented rehab costs...  However there are some lenders who will refi at the appraised value sooner than 6 months but we are talking portfolio lenders 

Also I know the Rochester market a little bit.. 

Another hurdle maybe the property value min for these type of lenders are usually 75k to 100k