refinance Definition
- 1to replace an existing loan with a new one, usually in order to get a lower interest rate or better terms
- 2to revise the financing of something
Using refinance: Examples
Take a moment to familiarize yourself with how "refinance" can be used in various situations through the following examples!
Example
I'm thinking about refinancing my mortgage to get a lower interest rate.
Example
The company decided to refinance its debt to improve its financial position.
Example
She refinanced her car loan to get a better monthly payment.
refinance Synonyms and Antonyms
Synonyms for refinance
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Summary: refinance in Brief
To 'refinance' [ˌriːˈfaɪnæns] means to replace an existing loan with a new one, often to obtain better terms. It can also refer to revising the financing of something. Examples include 'I'm thinking about refinancing my mortgage to get a lower interest rate,' and 'The company decided to refinance its debt to improve its financial position.' Synonyms include 'restructure' and 'renew.'
