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

Image In Rhode Island, Francis J. Spinella, an affordable housing consultant who has been involved in the field for more than 30 years, is now trying to refinance Wickford Village in North Kingstown, a 129-unit Section 8 development, in order to do capital improvements. —David W. Chen, New York Times, 7 June 2024

For the first few months of this year, hundreds of zombies refinanced their loans as lenders opened their wallets in anticipation that the Federal Reserve would start cutting in March. —Rachel Ventresca, Fortune, 7 June 2024

The venture promised big returns from acquiring film rights and selling them to Netflix and other platforms in Latin America, but Whitmore lost all of his money, forcing him to refinance his home to pay off the debt. —Laurence Darmiento, Los Angeles Times, 28 May 2024

Unable to refinance its enormous debt, Greece was bailed out by the European Commission, the European Central Bank, and the IMF. —Stathis N. Kalyvas, Foreign Affairs, 3 May 2016

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)