Here are a few pointers on looking for home-loan refinance.

Up to approximately 30 per cent to thirty-five per-cent of your credit rating is determined by your repayment history. If you miss only one month's payment, it may drop you 100 points. That 100 points may be the reason why you get that better rate of interest on your finance.

A stable income, a good credit history and a good wodge of home equity are three factors which affect whether you can qualify for a refinance. Lenders go through your credit report and ask you for documentation to prove your income, financial capability and your collateral.

The better your credit rating is the easier it can be for you to get approved and get a good interest rate. People who have poor credit histories will suffer higher rates. So pay your credit card debts and other smaller debts and don't get new loans or credit card accounts.

If your new contract interest rate seems too good to be real then it often is. Keep an eye out for hidden fees.

Lenders will only take on those who can pay their monthly dues without fail. They tend to avoid those who shift jobs too much or impose higher rates to compensate for the risk. A stable income is evidence that you will be able to repay your debt. The higher your income, the higher the loan amount you will qualify for. Lenders examine your income and determine just how much of it goes to your monthly repayments and other loan obligations. If your total debt is less than 38% of how much you earn per month, then you are rated a potentially good borrower.

Seek a pre-approval from a variety of financiers. Don't offer 'em sufficient info to get your credit evaluation. They will offer you a less definite home loan refinance offer, but you will be able to read the small print to make sure the contract suits you.

Home equity is the difference between the balance that you need to repay from your mortgage and your home's value. The lower the remaining balance you need to pay, the higher the loan amount you can borrow. Note that lenders usually limit your loan to up to 80% of your outstanding balance.

I hope these few handy tips will be of some use to you in investigating premium home refinance.