to refinance a mortgage
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5.3
- phrasal verb
- /ˌriːˈfaɪnæns ə ˈmɔːrɡɪdʒ/
:
refinanciar una hipoteca
- Before deciding to refinance a mortgage, it's important to compare different loan terms.
- homeowners refinance their mortgages
- refinancing a high-rate mortgage
- refinance at low rates
Examples
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I've received two emails this afternoon, hawking the advantages of refinancing my mortgage, now that interest rates have dropped to 5.5%.
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You do not have to refinance your first mortgage to obtain a loan against your home to get out of debt.
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Mortgage rates are actually affordable, and the very best time to refinance your mortgage while in Canada!
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What that means is that all those folks who refinanced their mortgages may be protected under this bill.
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However, for current mortgage holders and for anyone in a position to refinance a mortgage, the positive impact of recent market developments is here today.
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Refinancing a mortgage means paying off an existing loan and replacing it with a new one.
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If refinancing will cut back your fee and not add years or significant costs, then refinancing your mortgage makes sense.
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"It may be helpful for my client to refinance the mortgage on his house" as a way of reducing mortgage payments, says Dallas attorney Hersh.
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HARP has proven to be an effective tool for helping underwater homeowners refinance their mortgages down to more affordable levels.
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I called Countrywide to refinance my current mortgage and second mortgage of $9,400 into one, still keeping me under 80% loan to value.
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Synonyms
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5.2
To get a new loan to replace an old one, usually to get better payments or lower interest
How Advantageous
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5.3
39
5.2
Surface Forms
Morphology
The meaning is directly and compositionally derived from 'refinance' (to replace an existing loan) plus 'mortgage' (a home loan); together they straightforwardly indicate replacing a mortgage with new financing. This is a standard verb + object collocation with no idiomatic shift and mirrors similar constructions in other languages, so a B1 learner who knows the constituent words will grasp the meaning.
Etymology
Refinance a mortgage comes from the simple idea of replacing an old mortgage with a new one, like swapping an old deal for a better deal. People do this to get a lower interest rate or smaller monthly payments, so refinance a mortgage means 'to replace your home loan to get better terms'.