Despite all the economic and unemployment problems in the country, many people have been managing their finances pretty well. Those people may not be in need of desperate refinance loan to consolidate debt or cash out equity. These people would only refinance their home mortgage loan to save money and maybe pay their mortgages earlier.They may be just looking for a best time to lock in those low interest rates mortgage offers for a long time to come. Their credit score would be pretty good as well. Looking at the number of refinance applications, many seem to think that this is their chance. Record low interest rates bring out homeowners to take advantage of the very good opportunity. The rates have come down enough for refinance to be beneficial for many. This is one of those ideal times for homeowners with good equity in their home and good credit score to refinance.In fact, it may still be ideal for people who do not have equity in their home and want to lower their mortgage nevertheless. Bank saving rates are so low that many homeowners may not see any point in keeping their money in the bank any more. They could put that money to better use and capture the low rates. This will lower their monthly payment and allow them to pay off their mortgage much earlier, if they choose to do so. Even though house prices may still be falling, not many is brave enough to put any money in stocks or any business investments. Their home still seems to be a better place to park their capital at the moment.Benefits of refinance for debt consolidations are much more obvious for people who are in such a mess that they can not ignore the problem anymore. They are especially in luck, because low mortgage rates could not have come in a better time for them. Should their credit score not be desirable, it is likely that they will not be able to improve it without cash injection. The solution could be that they take the higher interest rates for their circumstances on the chin. Sort out their problems, improve their credit score and come for the second round of refinance home mortgage loan.Whatever their circumstances may be homeowners could do with a bit of exercise online. They could get their credit score free of charge. Use that information along with other basic information to get a mortgage rate offer for their circumstances. The whole exercise should not take more than couple of hours, but they do not have to share any of their information with a broker or a bank manager. They would have a much clear picture to judge where to take things from there.