refinance
/ˌriːfɪˈnæns/
noun
- The act or process of refinancing a loan.
- He completed a refinance of his student loans last month.
- A refinance can help you pay off debt faster.
- The bank offered a special deal on refinance for existing customers.
verb
- To replace an existing loan with a new one, usually to get a lower interest rate or better terms.
- They decided to refinance their mortgage to take advantage of lower rates.
- She refinanced her car loan to reduce her monthly payments.
- Many homeowners refinance their homes to save money over time.
Synonyms