As a first-time home buyer, your home is one of your most valuable assets. And, no doubt buying your home was the most important financial decision you ever made.At the time that you took out your mortgage loan, you were able to qualify for a certain interest rate. The rate for which you qualified was determined in large part by your FICO, or credit, score at that time.Now, if more than a year or so has passed since you took out your loan, one of two things may have happened:a. Average mortgage interest rates have taken a diveb. Your credit score has improvedAnd, if BOTH of these things have happened since then, the situation is particularly in your favor. Why? Because this type of situation can easily translate into your being able to qualify for an interest rate that is one or more interest points lower than what you are paying right now. This can mean huge savings in your monthly payments and total interest paid over the life of the loan. The best way to do this? Through refinancing your mortgage loan.If you are looking for first-time home buyer refinance home loans, here are 5 ideas that can help:1. First-time home buyers can enjoy a number of benefits and perks:As a first-time home buyer, you may have been able to qualify for everything from federal tax exemptions to state or local-level perks such as grants for a down payment, the covering of certain closing costs, or even a discounted loan rate.2. Refinancing a home means you are taking out your second home loan:However, now that you own your home and have successfully qualified for your first mortgage, the story may have changed a bit. Refinancing actually means you would be taking out your second mortgage ever (as opposed to your first). Therefore, the same perks will no longer be available to you. However, that does not mean you will not be able to qualify for a very good rate if you play your cards right.3. The rate you qualify for depends in part upon your credit score:As you know, the rate you qualify for when refinancing your home mortgage loan depends greatly on your credit score. This is just a fact of home loans today.4. There are other factors that home refinance lenders take into account:However, other factors can also be taken into account by a prospective refinance lender. Each lender has a different set of criteria that they look at when deciding the rate of a new borrower.5. The key to getting the best rate is to compare similar offers from multiple home refinance lenders:The only way to know for sure if you can qualify for a better rate than you have now is to apply to multiple lenders. First, run your credit report and check for errors. Then, go ahead and apply for a mortgage refinance loan to at least 5 lenders in addition to your current mortgage lender.Try these 5 ideas for successfully refinancing your mortgage as a first-time home buyer.