refinancing Definition
- 1the process of replacing an existing loan with a new loan that has better terms, such as a lower interest rate or monthly payment
- 2the act of revising or reevaluating a financial agreement or contract
Using refinancing: Examples
Take a moment to familiarize yourself with how "refinancing" can be used in various situations through the following examples!
Example
Refinancing your mortgage can save you thousands of dollars in interest payments.
Example
The company is considering refinancing its debt to take advantage of lower interest rates.
Example
After careful refinancing, they were able to reduce their monthly payments by $200.
refinancing Synonyms and Antonyms
Synonyms for refinancing
Summary: refinancing in Brief
Refinancing [ˈriːˌfaɪnænsɪŋ] refers to the process of replacing an existing loan with a new loan that has better terms, such as a lower interest rate or monthly payment. It can also refer to the act of revising or reevaluating a financial agreement or contract. Examples include 'Refinancing your mortgage can save you thousands of dollars in interest payments,' and 'The company is considering refinancing its debt to take advantage of lower interest rates.'
