Mortgage Genie is the right place to be if you want someone to explain refinancing a home, teach you how to refinance your mortgage or deal with your debt consolidation needs. If your plans include home ownership in Toronto, then you need to ensure you have a good credit status. And even if your credit is not the best, you need to understand what you may face when you attempt to refinance your home mortgage with bad credit. Most lenders in the industry will want to ensure that your credit history for at least the past year is impeccable. The best home mortgage refinance loan deals are offered to individuals with a score of 720 and above. You’ll have an uphill task convincing home refinance lenders to approve your application if your score is below the 720 threshold. As well by consolidating your debt your credit score will increase and ensure a better rate in the future.