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 state still owes about $430 million for that, which would have to be refinanced, with interest totaling $1.3 billion, ISFA calculates. —Robert McCoppin, Chicago Tribune, 4 May 2024

Far more important to apartheid’s overthrow, in her view, was that nation’s own internal protest movement and the international finance community’s reluctance to refinance South Africa’s debt. —Jackie Valley, The Christian Science Monitor, 3 May 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)