1. replaces an existing loan or debt with a new loan, typically with better terms or interest rates
Usage: third person singular present tense of refinance

Examples

• She refinances her mortgage every few years to get lower rates.
• The company refinances its debt when interest rates drop.
• He refinances his student loans to reduce monthly payments.
• The bank refinances the loan with a 15-year term instead of 30.
• When the market improves, she refinances her home equity loan.
• The business refinances its credit line to improve cash flow.