verb
- past tense and past participle of refinance; replaced an existing loan or debt with a new loan, typically with better terms
Usage: finance
Examples
- They refinanced their mortgage to get a lower interest rate.
- The company refinanced its debt to improve cash flow.
- We refinanced our home loan last year and saved thousands.
- The business refinanced to take advantage of better market conditions.
- After improving their credit score, they refinanced at a much better rate.
- The homeowners refinanced to switch from an adjustable to a fixed rate.