Definitions from the Web
re-finance
Description:
Re-finance, as a verb, refers to the act of obtaining a new loan to replace an existing loan, typically with more favorable terms or interest rates. It is commonly done with loans such as mortgages or car loans to reduce monthly payments or obtain better loan conditions. As a noun, refinancing refers to the process or action of re-financing.
Example Sentences:
- He decided to re-finance his mortgage to take advantage of the lower interest rates available in the market.
- After analyzing the current loan, she realized that re-financing her car could help her save money in the long run.
- The company is considering re-financing its business loans to access additional funds for expansion.
- Refinancing their home allowed them to lower their monthly payments and have extra money for other expenses.
- John successfully re-financed his student loans, resulting in a significantly reduced interest rate.
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