FHA 203k Credit Score Question - Lenders, Help?

[Evan Manship]

Ok- here is the situation:

I am purchasing a duplex and utilizing a 203k to do so. It is an off-market, estate sale property so the process has been dragging out since I originally put it under contract in June. I was pre-approved for my mortgage the same month and my credit was perfectly fine (720ish).

 Here is where it gets interesting.

Unbeknownst to be until last week, I have had activity on a credit card I haven't used in several years with a bank I no longer use. I remember cutting up this credit card with scissors about 12 months ago so obviously it wasn't any wrong doing of my own that the card was used. However, since I didn't know the card existed, much less that there was an outstanding balance, the delinquent charges plummeted my credit score down to around 600 -- beneath the minimum threshold for a 203k loan. Luckily the fraud was only about $150 and I have already paid it off in full from my account -- hopefully enough to raise my credit score enough to ensure my loan.

My closing deadline is this coming Friday, and I am lucky to have family willing and able to chip in so that I can close on the property in cash. However, I would like to refinance out and get them all paid back off as soon as possible and I want to ensure that it can be done before January 1.

My question is, can any mortgage lender (particularly someone who specializes in 203k loans), speak to what the process is like for refinancing out? What are the minimum credit scores for a re-fin? I

All help is appreciated. Thanks