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

Definition of refinance

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 People refinance for a variety of reasons, but one common scenario is to lower their interest rates and thus their monthly mortgage payments. Brittany Anas, House Beautiful, "When to Refinance Your Home," 12 Feb. 2021 The state can refinance with tax-free bonds in 2023. Rochelle Olson, Star Tribune, "Walz proposes to redirect U.S. Bank Stadium e-pulltab revenue to general fund," 26 Jan. 2021 To avert such a possibility, Trump needs to find enough cash to pay down the loans or find another lender that will refinance them. John Cassidy, The New Yorker, "Trump’s Financial Troubles May Be Just Beginning," 15 Jan. 2021 If homeowners can't sell or refinance, there could be a spike in foreclosures and the supply of homes on the market would increase sharply, pushing down prices. Michael Braga, USA Today, "Are we trapped in another housing bubble? A rapid rise in home prices has some experts worried," 4 Feb. 2021 In the leveraged loan market, Centerfield Media has an investor call scheduled on Monday for its $500 million in term loans to help refinance existing debt. David Caleb Mutua,, "U.S. Corporate Bond Sellers Are Preparing an Onslaught of Deals," 8 Nov. 2020 The firm in January 2019 issued a loan so that Fairmount Properties and DiGeronimo Companies, which developed Pinecrest, could refinance their construction obligations. Eric Heisig, cleveland, "Facing foreclosure, Pinecrest shopping center relinquished to New York lending company following coronavirus-related financial woes," 23 Oct. 2020 Under normal circumstances, a borrower might seek to refinance or extend those loans, perhaps by getting a loan from a different bank. Anchorage Daily News, "Banks, partners flee Trump brand in backlash to Capitol attack," 13 Jan. 2021 Continued low mortgage rates in 2021 should be a boon to buyers and homeowners seeking to refinance their properties. Steve Brown, Dallas News, "Housing boom in D-FW and nationwide will continue in 2021," 10 Dec. 2020

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'refinance.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

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First Known Use of refinance

1995, in the meaning defined above

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Time Traveler for refinance

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The first known use of refinance was in 1995

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Last Updated

25 Feb 2021

Cite this Entry

“Refinance.” Dictionary, Merriam-Webster, Accessed 25 Feb. 2021.

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More Definitions for refinance



English Language Learners Definition of refinance

: to get a new loan to pay (an older debt) : to finance (something) again


transitive verb
re·​fi·​nance | \ ˌrē-fə-ˈnans, -ˈfī-ˌnans How to pronounce refinance (audio) \

Legal Definition of refinance

 (Entry 1 of 2)

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



Legal Definition of refinance (Entry 2 of 2)

: a financing of something anew especially : a revision of the terms of a debt obligation (as a mortgage)

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