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

Sky Quarry continues to focus on increasing production capacity at the Foreland refinery and exploring opportunities to refinance existing obligations. —Quartz Bot, Quartz, 14 Nov. 2024

The big picture: Many outright homeowners are Baby Boomers who refinanced when mortgage rates were lower. —Sami Sparber, Axios, 5 Nov. 2024

Among the limited direct support provided for households are new regulations that permit borrowers to refinance their mortgages, enabling them to take advantage of a recent half-percent reduction in the benchmark mortgage lending rate. —Zongyuan Zoe Liu, Foreign Affairs, 31 Oct. 2024

Rather than pay down the debt with cash, the Trump Organization opted to refinance. —Dan Alexander, Forbes, 30 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)