There are many reasons why an individual looks for the best refinance home mortgage loan. The most common one is to be able to enjoy the benefits of low home loan interest rates. Other important reasons borrowers refinance mortgage home loans is to pay credit cards, improve their homes and rebuild credit scores that might have turned for the worse.Before one is able to obtain the best refinance home mortgage loan, he must know why he needs one in the first place. When a home owner refinances, old mortgages are normally paid off and he signs a new one.Borrowers who refinance home mortgage loans should check on a number of factors before actually going through the process. First of all, it is advisable to search for a lending company that is willing to give up some of the fees. Such fees and dues are legal, application and appraisal fees. They are usually associated with the usual closing fees of new mortgages. Getting the right lender can actually save one significant amount of money.How long will you stay in your property? If it is only for a few months, savings every month will not have time to catch up on involved costs especially if you failed to find a lender who will waive some of the involved costs. Therefore it is a must that you find ample time to search for a good lender for your home mortgage loan refinancing needs.People want to obtain the best refinance home mortgage loan in order to build fast on their home equity. Refinancing actually helps a home owner to build on their equity at a shorter period of time and pay less amount of interest over the duration of the loan. If a borrower wants to refinance a thirty year home mortgage into a fifteen year one but is worried about the high costs, a twenty year mortgage can be a good alternative as he can still take advantage of low rates.