 TITLE: 6 Steps to Refinancing Your Home Mortgage CONTENT: 1\\. Check Your Credit\n---------------------\nHaving good credit has a lot of perks, and if your credit score has improved since you got your first mortgage loan, it could improve your chances of getting a lower interest rate than you're currently paying. So before you start the application process, check your FICO® Score☉ to understand your current situation. Once you know your FICO® Score, take a look at the score range to see where you stand:\n*   **Exceptional**: 800 to 850\n*   **Very good**: 740 to 799\n*   **Good**: 670 to 739\n*   **Fair**: 580 to 669\n*   **Very poor**: 300 to 579\nYou can check your credit reports and scores through Experian for free. Many conventional mortgage lenders may approve your loan application if your FICO® Score is 620 or higher, but scores in the mid-700s and above will give you the best chance of scoring a low rate.\nIn addition to your credit score, lenders will also look at other factors, such as your payment history, recent credit applications, your credit utilization ratio, major negative items like bankruptcies and foreclosures, and more.\nAs a result, it's also important to check your credit report to make sure there aren't any inaccuracies listed. If you find something that you believe is incorrect or fraudulent, dispute it with the credit reporting agencies. If it's determined that you're correct, the item will be corrected or removed, which may make it easier to get a better loan rate. END