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For a cash-out refi on a home the borrower lives in, generally, the lowest credit score is 640, according to Fannie Mae's standards. But such a loan comes with caveats. The borrower can't have an LTV ratio higher than 75%, must have 6 months of reserves in the bank and a debt-to-income ratio of 36% or lower.
Sharon is correct, when you sign the loan paperwork for a Fannie, Freddie or Government loan (FHA, VA, USDA), you are agreeing to move into the property within 60 days and live there as your primary residence for 12 months after you move in. Hope that helps, Ros.