A re-fi happens when there is an increase in value from when you bought it, to the day that it is evaluated by a lender, who is willing to reset the market value.  

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Semper FI my friend and thank you sincerely for your service and the sacrifice you made to help keep Americans safe.

Standard loan 20% down...I plan to re-fi after one year and get my cash back.  

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@Darren Eady OK That makes sense, I see why they are calling - this goes in the books for them as another loan if I re-fi - question for myself is are the costs worth the lower rate over time or choose the lean option now.  

If you bought the house right you should be able to profit on the re-fi. 

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Purchase price plus closing costs:  75kRental income during those 18 months (minus taxes, ins vacancies and repairs):   10,500Interest only payments for 18 months:  8100Appraised value at time of refi:  150kRe-fi loan amount including closing costs:  80kSo basically, I have no money into the deal, I was able to do a few repairs and I walked away with a few dollars in my pocket.  

I've never owned a property that went up enough in value to pay for the cost of the re-fi plus give me enough equity to make it worth the effort.