Meaning of the word refinance in English
What does refinance mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.
refinance
US /ˌriːˈfaɪ.næns/
UK /ˌriːˈfaɪ.næns/
Verb
to replace an existing debt with a new one, often with more favorable terms or a lower interest rate
Example:
•
We decided to refinance our mortgage to get a lower interest rate.
•
Many homeowners choose to refinance when interest rates drop.
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