Given your relatively low credit score I do not think you can qualify for a conventional cash-out refinance but you may be able to qualify for an FHA cash-out refinance. FHA loans require a credit score of only 580 or lower in some cases so the program may apply to. One issue that you may run into when you apply for a cash-out refinance is that the FHA cash-out refinance program permits a maximum loan-to-value (LTV) ratio of 80%. So you need to make sure you have enough equity in your home to take out the amount of proceeds that you want.
I recommend that you contact multiple lenders to understand how they would handle your unique situation. You can compare FHA lenders in your area by clicking INTEREST RATES We advise you to contact at least four lenders as comparing lenders is the best way to save money on your mortgage.