Refinancing Small Multi Number 7 Problems

[Boris Peyzner]

Hello all, 

I need some advice.  I am in the process of refinancing my 7th property which is a 2-family home.  Two lenders I have used in the past have told me that you need a credit score of at least 720 due to fannie mae regulations to refinance properties 7-10.  Is this true?

My credit was 717 immediately before I refinanced property number 6 about 3 weeks ago.  During the refi of property number 2, anticipating refi of property 7, I paid off all my small credit card balances and brought my loan to available credit to under 20 percent on my main card.  I was hoping my score would go up but it appears that my recent refi brought my score down to 697 (still can't believe this).  

Any advice?  Are there lenders that would refi a 7th property (I want to avoid commercial or portfolio loan if possible).

Thanks