We have all heard a lot about the mortgage industry lately. Some of it is positive, but much of it is negative. The sub-prime mortgage scandal, homeowner bailouts, the freezing of foreclosures – the industry has received a lot of bad press, to be sure.But the fact remains that the basic mortgage system is still sound and intact. And, let’s face it, when you find that you want to refinance your existing mortgage in order to take advantage of lower interest rates, there really is no choice but to approach a mortgage lender to get a loan.Refinancing does have its benefits, after all. If conditions are right – both in the market and with your current credit score – by refinancing your home loan you could stand to save thousands of dollars per year in mortgage payments. And, you could save much more than that in interest paid over the life of the loan.Still, in order to make refinancing make sense, you will want to find yourself the lowest-possible mortgage loan refinance interest rates.Here are 5 tips on how to refinance home mortgage loans at the lowest rate:1. Know your FICO score:Each and every one of us has a personal financial history. If you are over the age of 21, you likely have a history with credit cards, taking out loans, and carrying department store cards. Of course, some of us have been more consistent than others in terms of making on-time monthly payments on those various financial instruments. That type of personal payment history, combined with several other factors, determines our FICO, or credit, score.These days, most mortgage refinance lenders focus heavily on the applicant’s credit score when evaluating a new application. So, run your report and find out whether you have an excellent, good, fair, or poor credit score. The answer will have an effect on the rate for which you qualify.2. Fix any credit glitches on your report:When you look at your credit reports, do not just focus solely on the score. Look also at each line of your report. If you notice any mistakes, errors or glitches, be sure to get them straightened out right away so that they do not affect your chances for getting approved at the lowest rate.3. Research at least 3 other lenders:Start by researching 3 mortgage lenders – other than your current lender – and asking them for a refinance quote. Compare the offers you get to find out which one seems to be giving you the best deal.4. Ask your current lender for a quote:Now, with that best offer in mind, approach your lender for your existing mortgage and see what they can do.5. Make sure you compare offers on an apples-to-apples basis:As you compare the various mortgage refinance offers, be sure to compare the offers on an apples-to-apples basis. That includes everything from closing costs to interest rate to repayment term (e.g., 15 years, 30 years, etc.). Doing so is the only valid way to compare offers and find the best deal.Follow these 5 tips as you compare offers for refinancing your home mortgage loan.