refinance

verb

re·​fi·​nance ˌrē-fə-ˈnan(t)s 

(ˌ)rē-ˈfī-ˌnan(t)s,

ˌrē-(ˌ)fī-ˈnan(t)s

refinanced; refinancing; refinances

transitive + intransitive

: to renew or reorganize the financing of something : to provide for (an outstanding indebtedness) by making or obtaining another loan or a larger loan on fresh terms

refinance a mortgage

With rates tumbling, pay a little more now and retain the flexibility to refinance again next year.

—Daniel Kadlec

Examples of refinance in a Sentence

Recent Examples on the Web

Neiman Marcus filed for bankruptcy in 2020, but emerged from Chapter 11 protection a few months later, after shedding $4 billion in debt and refinancing the rest. —Jaclyn Peiser, Washington Post, 4 July 2024

Before his wife decided to take a nap, the couple disagreed over whether to refinance their home to help pay off debt, according to court records. —Marcus Reichley, The Arizona Republic, 3 July 2024

The new facility is aimed at refinancing an existing credit facility, that has been a key factor in BondIt’s growth over the last six years. —Lexi Carson, Variety, 25 June 2024

And while investors have been willing to lend new money to owners of warehouses or hotels, few want to refinance office loans. —Julie Creswell, New York Times, 6 June 2024

Word History

First Known Use

1995, in the meaning defined above

Legal Definition

refinance

1 of 2 transitive verb

re·​fi·​nance ˌrē-fə-ˈnans, -ˈfī-ˌnans 

1

: to renew or reorganize the financing of

2

: to revise the terms of (a debt obligation) especially in regard to interest rate or payment schedule

refinance a mortgage

intransitive verb

: to finance something anew

refinance

2 of 2 noun

: a financing of something anew

especially : a revision of the terms of a debt obligation (as a mortgage)