Definition of Refinance

to finance something a second time, usually at a lower rate

Examples of Refinance in a sentence

Rather than pay off their loan, some people choose to refinance it, allowing it to go longer and at a possibly lower rate.  

If you cannot afford to pay off your complete home mortgage, you can choose to refinance it instead, getting a second loan.  

I didn’t have the money to pay my bank loan right now, so I refinanced it and got a second loan instead.  

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