Definition of refinance in English:
Finance (something) again, typically with a new loan at a lower rate of interest.
- Governments have saved billions by refinancing the national debt at lower interest rates.
- If you have a home loan, refinance your mortgage to lower your payments.
- Griffin is quick to point out that he paid off his $2,000 credit card debt and refinanced his mortgage a second time, saving about $60 a month in payments.
Definition of refinance in:
- British & World English dictionary
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