refinance

verb

re·​fi·​nance ˌrē-fə-ˈnan(t)s How to pronounce refinance (audio)
(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 Homeowners are less likely to refinance when interest rates go up. Detroit Free Press, 28 Feb. 2024 The principal can ultimately be refinanced by another willing lender or repaid in full at the time of a sale. Chris Deubert, Forbes, 15 Feb. 2024 Developers are having trouble refinancing their loans because the value of the office buildings has plunged as vacancy rates spike. Matt Egan, CNN, 9 Feb. 2024 For instance, would the city and county have to refinance their existing water and sewer debt to make the switch, which could cost hundreds of millions of dollars amid high interest rates? Christine Condon, Baltimore Sun, 26 Jan. 2024 In its second year, the California Housing Finance Agency’s Dream For All Shared Appreciation Loan program will continue to award down payments that don’t have to be repaid until the property is sold, refinanced, transferred or paid off. Brianna Taylor, Sacramento Bee, 26 Jan. 2024 With that said, when interest rates improve, people have refinanced their home to pay off debt, sold investment accounts such as stocks, and taken extra jobs to eliminate debt. Jasmine Browley, Essence, 24 Jan. 2024 Jumbos with adjustable rates are generally taken with the thought of refinancing the loan, paying it off early—or even selling the property—before the rate resets, Bankrate’s McBride says. Beth Decarbo, wsj.com, 14 Dec. 2023 High rates could also compound the struggles of banks that are saddled with bad commercial real estate loans, which would be harder to refinance at higher rates. Christopher Rugaber, Fortune, 9 Feb. 2024

These examples are programmatically compiled from various online sources to illustrate current usage of the word 'refinance.' Any opinions expressed in the examples do not represent those of Merriam-Webster or its editors. Send us feedback about these examples.

Word History

First Known Use

1995, in the meaning defined above

Time Traveler
The first known use of refinance was in 1995

Dictionary Entries Near refinance

Cite this Entry

“Refinance.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/refinance. Accessed 19 Mar. 2024.

Legal Definition

refinance

1 of 2 transitive verb
re·​fi·​nance ˌrē-fə-ˈnans, -ˈfī-ˌnans How to pronounce refinance (audio)
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)
Last Updated: - Updated example sentences
Love words? Need even more definitions?

Subscribe to America's largest dictionary and get thousands more definitions and advanced search—ad free!