Getting refinance loan is not a big deal but the catch is to get the loan with favorable terms. This is more necessary if you have a bad credit rating because money lender may charge you higher rate of interest or put some stringent clauses that can prove to be unfavorable to you. If you read the following tips carefully, you can understand the right technique and follow the right process for bad credit home refinance.Improve Credit RatingPeople with good credit rating secure home refinance loan with low interest rates. But if you have a bad credit rating, then your loan options are limited. These reasons make it necessary to improve your credit rating to get the loan approval at lower interest rates.First, you should try to understand what bad credit is. The money lender before approving your mortgage home loan application will try to find out your credit standing. Collection Accounts, delay in repayment of past debts, too much debts and default in loan payments are few points that show your credit rating. Your bad credit will have negative impact on your loan application to get loan at favorable terms. So, the first tip you should keep in mind before applying for bad credit home refinance loan is to improve your credit rating.There are ways how you can raise your rating. Firstly, you can consolidate and payoff past or existing debts. Secondly, there are credit rating agencies that can repair your bad credit rating. You can approach them for improving your credit standing.Down PaymentThe money lender may demand down payment or you may have to spend money on closing costs. However, many hardworking people find it difficult to save enough money for these payments. Though various loan programs incorporate such charges of closing costs in the loan amount itself, but if you can make down payment, then the chances of getting approval for your loan application is easier. The down payment will also help you to secure loan at low interest rate. So you should save money for down payment against your loan.Select LenderThere are different types of money lenders for home refinance loans. You may find prime lender, sub prime lender or high risk money lender who can offer you your refinance loan. The prime lender may charge you outrageous interest rate whereas sub prime lenders or high risk lenders may offer you loans at favorable terms. The reason being they specialize in this type of loan only. So, it is necessary that you should select the sub prime lender who specializes in refinance home loans.The above given tips would help you to get bad credit home refinance loan at easy terms.