Thanks to the economy, many homeowners are finding themselves stuck in a mortgage that doesn’t fit their current financial situation. One solution to this issue is a home loan refinance. This can allow you to lower your monthly payment and keep your head above water financially. Here are a few tips to get you started and prepare you to refinance your home loan.1. Know your situation. Prepare any documents that you may need to have on hand in order to apply for a refinance. You’ll want the promissory note of your previous home loan, a copy of the loan statement, proof of income, tax data, insurance information, and so on. You’ll need a lot of paperwork. Get everything you need and organize it before you try to apply for a refinance. This will make the process smoother for you and your lender and will greatly increase your odds of success.2. Know what you need. It’s pointless to refinance your loan if you haven’t thought about the future and what your finances will be like over the coming years. Make a budget. Think long term. Be honest with yourself. Once you know what you need and what you can afford, shop around to find the best refinance package that will meet your unique needs.3. Know your lender. Once you’ve found the right opportunity and the right refinance package, get to know the lender you’ll be working with. This is very important. You need to be able to trust your lender. You are on the verge of a long-term relationship with this individual or company, a relationship built on your own financial hardship, and as a result you need to be able to trust this lender with information that pertains to your financial and personal life. You need to be able to ask your lender for advice on a variety of financial topics related to your mortgage, and thus you need to be confident that your lender has your best interests in mind.4. Know your mortgage. This may seem intuitive, but you need to know what you’re getting yourself into. Read all terms and conditions of your new mortgage carefully. Ask your lender questions. Don’t be ashamed or afraid if you don’t understand a part of the loan. Find out! Educate yourself. There are always additional options to consider, such as buying down your loan, pursuing a fixed rather than an adjustable rate, and so on. Get the deal that’s right for you.If you prepare yourself and know these things, you’ll be that much more successful when you go to refinance your home.