 TITLE: How Does Refinancing a Mortgage Work? CONTENT: How Do I Qualify for a Refinance Loan?\n--------------------------------------\nThe qualifications for refinancing a mortgage are similar to the criteria for a new mortgage loan. Lenders will consider several factors, including your:\n*   Credit history and score\n*   Payment history on your existing loan\n*   Income and employment history\n*   Equity in the home\n*   Home's current value\n*   Other debt obligations\nIf you meet a lender's standards based on these criteria, you'll receive an offer according to the risk you pose to the lender. If, for example, you have a spotless credit history, a solid income and a lot of equity in the home, you may get approved for better terms on the new loan.\nIf, however, your credit score has gone down since you got your first mortgage or you have more overall debt, you may have a harder time getting approved for more favorable terms. END