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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