When you refinance, you'll have to go through the same qualification process you experienced when you took out your current home loan.

So look for ways to reduce your expenses and increase your savings rate.

Consider lowering your credit card limit, as a higher limit will reduce your borrowing capacity, even if you pay off your entire credit card debt each month.

Maintain or even increase your credit score by paying all your bills on time, and, possibly, closing out any personal or car loans you might have.