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What is the meaning of 'refinance'?

Updated: 9/11/2023
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18y ago

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As in the meaning of "redo" to "re"finance is to basically redo your original financing. There are many reasons one would refinance, possibly to switch from an adjutable to a fixed mortgage, to lower you interest rate, to obtain money from the equity in your property, to consolidate debt through a cashout, etc.

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The Refinance Calculator helps you determine whether a refinance makes sense for you. It will also explain why and give you the necessary motivate to help you make the right conclusion.


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