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

The funding has largely come from his savings account, with Barker admitting that the COVID-19 pandemic hurt his income when interest rates reached such low levels that homeowners had no incentive to refinance their homes. —Grace Raynor, The Athletic, 14 Jan. 2025

Applications to refinance a home loan rose 2% from the previous week but were 6% lower than the same week one year ago. —Diana Olick, CNBC, 8 Jan. 2025

Both companies will also have to wait for regulatory approval and debts will have to be extended or refinanced. —Joe Hindy, PCMAG, 7 Jan. 2025

ConAgra anticipates capital expenditures of approximately $450 million for fiscal 2025 and continues to evaluate refinancing opportunities for its debt. —Quartz Bot, Quartz, 19 Dec. 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)