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

Beijing has pledged to help by offering debt swaps to refinance the high-cost, short-term debt burdening many local administrations. —Zongyuan Zoe Liu, Foreign Affairs, 31 Oct. 2024

Lower interest rates on credit cards or loans can also assist individuals in starting new personal initiatives, improving their financial situation or refinancing debt on a personal level. —Antoine Sallis, Forbes, 28 Oct. 2024

This refinancing — which will include general obligation and Sales Tax Securitization Corporation bonds — has been planned since last year, when Jaworski’s team counted on $70 million in refinancing savings to balance the 2024 budget. —A.d. Quig, Chicago Tribune, 2 Oct. 2024

Last week the airline again delayed a deadline to refinance more than $1 billion in debt until late December, giving it breathing room with its credit card processor. —Leslie Josephs, CNBC, 25 Oct. 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)