Cash purchase - Cash-out refi before 6 month - 75% purchase $$?

[Greg Pekaar]

I'm buying a single family house in NJ cash. Closing next week. Lenders that i've talked to so far are telling me that I'd have to wait 6 month for refi with full 75% LTV based on appraisal, which makes sense.

They are also telling me that before 6 months, taking advantage of delayed financing rules I can take out up to 75% of purchase price. 

As far as i had read and heard online and in the forums, i was expecting to be able to get 100% of purchase price+closing costs via. refinance.

Is this only possible after the 6 months?