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to refinance

to refinance

39 5.2
To get a new loan to replace an old one, usually to get better payments or lower interest
  • verb
  • /ˌriːˈfaɪnæns/
translation icon : refinanciar
  • After several unsuccessful attempts with their bank to refinance their home, Gary did not know where to turn next.
  • refinance a mortgage
  • refinance a loan
  • refinance debt

And generally people tend to move or sell their house or refinance every seven years.

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Examples

  • Would it be smart to refinance to lower the house payment to cover medical expenses in the future?

  • I decided to refinance my mortgage to take advantage of the lower interest rates.

  • Where you get in massive trouble is if during that kind of economic period, you basically have to refinance your debt.

  • Bridge Credit Solutions is helping me so I can refinance so I can get the mortgage.

  • So more years go by and then Chris and I finally have enough money to refinance the house.

  • Do you think I should refinance my mortgage based on these circumstances?

    Blog text (6)
  • Because of Western sanctions, Russian companies are unable to refinance the massive debt they owe to Western banks.

    Academic text (2015)
  • My housemate, a single female, is in the process of trying to refinance her mortgage.

    Academic text (1996)
  • My wife and I recently refinanced our home and closed, going through Global Unity this time.

    Blog text (5)
  • Italy and Spain together must refinance hundreds of billions of euros in debt this year.

    Blog text (8)

Phrasal Verbs

To replace a current home loan with a new one to get lower monthly payments or a lower interest rate

How Extensive

to refinance
39 5.2
to adjust
317 2.7

Surface Forms

refinance infinitive
refinanced past
refinanced past participle
refinancing present participle
refinances third person singular

Morphology

refinance = finance (transparent) = re + finance

The meaning is a straightforward application of 're-' to 'finance', meaning to finance again, typically by replacing existing financing with new terms.

Etymology

Refinance is made of re- meaning 'again' and finance meaning 'money' or 'funding', so it literally means to get money 'again'. So, to refinance is to arrange a new loan or replace an old loan with different terms, often to get a lower payment.