8 Tips for Homeowners Who Want to Refinance July 30, 2021 For many homeowners, refinancing is an effective tool for gaining access to lower mortgage payments and other benefits. But refinancing might not be right for everyone, especially if you have a poor credit score or complicated financial situation. It’s important to know what to expect before you refinance, so follow these tips to make sure you understand all the steps of the process and have realistic expectations of what refinancing might provide. Before we proceed to give you the tips, let first of all understand what exactly refinancing is. What Really is Refinancing?