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

As proposed, the developer will start to repay the loan around year 15, when the project is refinanced. —Jennifer Van Grove, San Diego Union-Tribune, 30 June 2025

The club’s new owners would have no problem finding other people — and perhaps even the same people — with whom to refinance the debt. —Matt Slater, New York Times, 22 June 2025

Its plan is roughly akin to the state of Illinois taking out a home equity loan and refinancing its mortgage, albeit on a grand scale. —The Editorial Board, Chicago Tribune, 16 June 2025

Few want or need to refinance their first mortgage, especially with current rates hovering around 6% to 7%. —Jeff Lazerson, Oc Register, 5 June 2025

Word History

First Known Use

1995, in the meaning defined above

Rhymes for refinance

• circumstance
• exceedance
• happenstance
• advance
• askance
• enhance
• expanse
• finance
• freelance
• mischance
• perchance
• romance

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)