How does one refinance a subprime loan?

First, one needs to examine their credit report and correct any mistakes that they find on it. One's credit score will greatly affect their ability to secure favorable terms on their refinance, so it must be as accurate as possible. Next, one should gather all of their necessary paperwork, such as mortgage and bank statements, pay stubs. One will need to submit multiple copies throughout the process, and having all the documents gathered at the start can save substantial time later. Then, one should check for rates and terms with at least three different lenders and select the most favorable. Finally, one should select a lender, get an estimate, submit their application to that lender, have their home appraised and wait for approval.