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

Hernandez refinanced her home loan in 2016 using an adjustable-rate mortgage loan, which has a low introductory rate for a fixed initial period. —Samantha Delouya, CNN, 1 July 2024

While the pros of refinancing vary on a case-by-case basis, and might not make sense for everyone, there are some common misconceptions about everything from costs to requirements that can misleadingly steer homeowners towards, or away, from a refinancing. —Rocio Fabbro, Quartz, 11 June 2024

Neiman Marcus filed for bankruptcy in 2020, but emerged from Chapter 11 protection a few months later, after shedding $4 billion in debt and refinancing the rest. —Jaclyn Peiser, Washington Post, 4 July 2024

Before his wife decided to take a nap, the couple disagreed over whether to refinance their home to help pay off debt, according to court records. —Marcus Reichley, The Arizona Republic, 3 July 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)