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

Additionally, the low rates and the rise in home prices incentivized those who were already homeowners to refinance their mortgages, hoping to lower their monthly payments and reduce the amount of total interest paid over the long term. —Molly Peck, USA TODAY, 10 Apr. 2024

Carlsbad’s 148-unit Laurel Tree Apartments, an affordable housing complex built in 1999, has been approved for up to $45 million in tax-free bonds to refinance and rehabilitate the property. —Phil Diehl, San Diego Union-Tribune, 27 Mar. 2024

This means that the owners faced the forbidding prospect of attempting to refinance the 2021 mortgage in an environment of expensive money due to the current high rates for real estate loans. —George Avalos, The Mercury News, 21 Mar. 2024

Harwell said Ground Control has been in the process of refinancing and seeking loans for about four months. —Alexandra Hardle, The Arizona Republic, 8 Apr. 2024

Must be wanting to refinance and looking for a better deal? —Greg Cote, Miami Herald, 7 Apr. 2024

The bonds sold in 2006 to fund the county’s $425 million share of the $575 million renovations of Kauffman and Arrowhead stadiums were refinanced in 2014. —Mike Hendricks, Kansas City Star, 30 Mar. 2024

The partial claim second mortgage could be ignored until the house was sold, the mortgage was refinanced or the first mortgage was paid off, at which point the partial claim would have to be paid in full. —Jon Healey, Los Angeles Times, 27 Mar. 2024

Of course, consumers can try to refinance their debt after the Fed lowers rates. —Claire Ballentine, Fortune, 15 Mar. 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)