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

As those bonds mature and are refinanced at today’s higher rates, federal interest payments are projected to double within the next decade, according to the Congressional Budget Office. —Robert Pearl, Forbes, 24 Mar. 2025

In a filing submitted as part of the lawsuit, though, Jenkins’s attorney said that the deposits and loans highlighted in the suit came from vehicle trade-ins, refinancing, the sale of vehicles and property, and other innocuous sources, and provided a detailed accounting. —Ronan Farrow, The New Yorker, 24 Mar. 2025

That happened right as mortgage rates doubled to 7%, so basically refinancing wasn't an option either. —Quil Lawrence, NPR, 22 Mar. 2025

This could help recent buyers refinance into lower payments and keep the housing market stable. —Dan Perry, Newsweek, 18 Mar. 2025

Word History

First Known Use

1995, in the meaning defined above

Rhymes for refinance

• circumstance
• exceedance
• happenstance
• advance
• askance
• enhance
• expanse
• finance
• freelance
• mischance
• perchance
• romance

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)