Refinancing question BRRR

[Anthony Caramanica]

I currently have a mortgage of 110k on property worth 200k. I originally bought the house for 150k and would like to do a cash out refinance to get the 40k I put down for reinvestment. The problem is with my credit of 680 the bank is saying they can not meet the safe harbor thresholds on any loan. The only quote I got was for a rate of 6.1% 32k out on a 30 year. I current have a 15 year mortgage at 4.65 my payments would go up to 1550 from 1450 I rent the place for 1750. Any suggestions? Thanks