>6 month ReFi, how does this work (MD)

I am considering shopping for a refi if we get another rate dip, my understanding is that if a refit happens in a short turnaround, they use the appraisal value from the original sale. How does this work if I didn’t have an appraisal for the original sale because it was waived? I assume they will have to do a new one? I am wondering because comps in the neighborhood have only gone up and my understanding is that if my LTV goes even higher than the 80% the loan started at- it would mean that much more favorable rates.

Has anyone done this? I closed in August and have only made a few payments… The comps for my sale would be crazy I believe I could go as high as 75% LTV

submitted by /u/CasinoAccountant
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I am considering shopping for a refi if we get another rate dip, my understanding is that if a refit happens in a short turnaround, they use the appraisal value from the original sale. How does this work if I didn’t have an appraisal for the original sale because it was waived? I assume they will have to do a new one? I am wondering because comps in the neighborhood have only gone up and my understanding is that if my LTV goes even higher than the 80% the loan started at- it would mean that much more favorable rates. Has anyone done this? I closed in August and have only made a few payments… The comps for my sale would be crazy I believe I could go as high as 75% LTV submitted by /u/CasinoAccountant [link] [comments]

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