Help with understanding refinancing and going forward.

[Dalton O'Rourke]

Hello!

I am new to the real estate game and got my foot in the door by purchasing my first property as a live in renovation. It has been a very exciting and humbling experience. Im towards the end of my renovation and beginning to finalize my numbers...looking towards refinancing my loan with the new house value. 

I know this isn't a great deal, but this is where I am currently living and plan to until I can save up and do it all again!

Here are my rough numbers below. We purchased with a conventional loan, 10% down payment:

Purchase Price: $405,000

Closing/Fees/Misc: $12,500

Repairs: $85,000

ARV: $575,000

I was hoping for rates to come down some in the next year and refinance out with a 75-80% LTV. How do I properly calculate these numbers? What would you recommend I do in this situation?

Thank you all for your advice and expertise.