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Definitions from WordNet

Definitions from the Web

Refinance

Noun:

1. A financial term referring to the process of replacing an existing loan with a new one, usually in order to secure better terms, such as a lower interest rate.

Sample Sentence:

"John decided to refinance his mortgage in order to take advantage of the lower interest rates."

Verb:

1. To obtain a new loan, typically with more favorable conditions than an existing loan, in order to repay the earlier one.
2. In computer programming, to update or modify the code of a software component without changing its external behavior.

Sample Sentences:

"After realizing that interest rates dropped, she decided to refinance her car loan."

"The software developer had to refactor the codebase and refinance several modules before releasing the new version."

Related Products:

• Mortgage Refinance Books
• Car Loan Refinance Options
• Code Refactoring Tools