The rescheduling of payments on an installment contract; generally smaller payments extending over a longer period of time.

1901, from re- "again" + finance (v.). Related: Refinanced; refinancing.

To pay off a mortgage or other registered encumbrance and arrange for a new mortgage, sometimes with a different lender.

The process of paying off one loan with the proceeds from a new loan using the same property as security.

Refinancing means replacing one loan with a new, better loan. Improving the terms of a loan can mean obtaining a lower interest rate, a lower monthly payment, replacing an adjustable or variable rate loan with a fixed-rate loan or increasing the size of the loan and taking the difference in cash.

To pay off one loan by taking out another on the same property.

1 : to renew or reorganize the financing of 2 : to revise the terms of (a debt obligation) esp. in regard to interest rate or payment schedule [ a mortgage] vi : to finance something anew

Paying off an old loan while simultaneously taking a new one. This may be done to reduce borrowing costs under conditions where the borrower can obtain a new loan at an interest rate below the rat [..]

The system of borrowing by a bank or other financial intermediary from an apex institution or the CENTRAL BANK of a country, on the strength of its loans or financial ASSETS. Thus, for instance, IDBI [..]

Borrow an additional amount to replace an existing mortgage or loan. Often, individuals choose to refinance when mortgages become cheaper due to lower interest rates.

Paying off one loan by obtaining another. Refinancing is generally done to secure better loan terms (like a lower interest rate).

The renewal of an existing loan by the same borrower.

To pay off an existing loan with a new one while using the same property as collateral.

Repayment of an existing loan with the proceeds from a new loan, usually of similar size but on more favourable terms and/or with a new lender. In order to decide whether this is worthwhile, the savings in interest must be weighed against the fees associated with refinancing.

When you replace or extend an existing loan with funds from either the same or a different bank or financial institution.

To replace one loan with another, usually in order to extend the maturity, change the payment amount, or to consolidate several loans.

Obtaining a new mortgage loan on a property already owned. Often to replace existing loans on the property.

when a new loan is taken out to pay off an existing one. Refinancing is often done to extend the original loan over a longer period of time, reduce fees or interest rates, switch banks, or move from a [..]

Usually done so that you, the homeowner, can have a lower interest rate or have a longer time to repay your loan. The process involves retiring the securities you currently own and being sold new ones.

(v) renew the financing of

(1) Paying off existing debts with new (and cheaper) loans.

Obtaining a new mortgage loan on a property already owned, often to replace existing loans on the property.

When you replace or extend an existing loan with funds from either the same or a different bank or financial institution.

Replacing an old loan with a newer loan offering better terms. 

To pay off (discharge) a mortgage and any other registered encumbrances and arrange for a new mortgage with the same lender.

To refinance one's mortgage is to retire the existing mortgage using the proceeds of a new mortgage and using the same property as collateral. This is usually done to secure a lower interest rate mortgage or to access equity from the property.

To revise a loan agreement to make the terms of payment more suitable to a borrower's present income and ability to repay. Refinancing usually provides a lower interest rate and lower monthly pay [..]

A loan that replaces an existing mortgage to finance at a lower interest rate and/or take out cash. The most common reason for refinancing is to take advantage of interest rates lower than when the lo [..]

Paying off one loan with the proceeds from a new loan using the same property as security.

Paying off one loan with the proceeds from a new loan using the same property as security.

(finance) To renew the terms of a loan. ----