Cash out refinance

[Anonymous]

Seeking refinance with cash out. 

Have FHA loan 

Current FICO: 625

No late payments (mortgage or otherwise)  in last 12 months.

Owe $47000.00 on property worth approx $150000.00

Gross Income to mortgage payment ratio is <30%

Feedback please:

Are 401k accounts and home equity considered assets? If so, would they help my chances of getting approved?

Anyone in similar (or worse) situation have any success obtaining such a loan?

Any advice?

Thank you! 

[Anonymous]

I may vey well be wrong, but I think you may need higher than 620 to do a cash out refi?  Someone else will chime in.

[Anonymous]

I cashed out on my refi with 622 mid score and locked 4.67 30yr fixed and also self employed. No questions no problems. Good luck

[Anonymous]

Thank you jacob24!