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Refinanced: meaning, definitions and examples

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refinanced

 

[ ˌriːfaɪˈnænst ]

Verb
Context #1 | Verb

financial transaction

Refinanced refers to the process of revising and replacing the terms of an existing loan agreement, typically with the aim of obtaining better conditions, such as lower interest rates or more favorable repayment terms. This operation can apply to various types of loans, including mortgages, car loans, and student loans. By refinancing, borrowers can potentially save money on interest payments or consolidate debts. The process may involve applying with different lenders and undergoing credit checks, much like obtaining a new loan.

Synonyms

consolidated, reorganized, restructured

Examples of usage

  • They refinanced their mortgage to get a lower interest rate.
  • She decided to refinance her student loans to make payments more manageable.
  • After a year in their home, they refinanced to take advantage of lower market rates.

Translations

Translations of the word "refinanced" in other languages:

🇵🇹 refinanciado

🇮🇳 फिर से वित्तपोषित किया गया

🇩🇪 refinanziert

🇮🇩 dibiayai ulang

🇺🇦 рефінансований

🇵🇱 refinansowany

🇯🇵 再融資された

🇫🇷 refinancé

🇪🇸 refinanciado

🇹🇷 yeniden finanse edilmiş

🇰🇷 재융자 된

🇸🇦 إعادة تمويلها

🇨🇿 refinancovaný

🇸🇰 refinancovaný

🇨🇳 再融资的

🇸🇮 refinanciran

🇮🇸 endurfjármagnaður

🇰🇿 қайта қаржыландырылған

🇬🇪 რეფინანსირებული

🇦🇿 refinansiya edilmiş

🇲🇽 refinanciado

Etymology

The term 'refinanced' is derived from the prefix 're-', meaning 'again' or 'back,' combined with 'finance,' which has its roots in the Latin word 'financia,' meaning 'settlement of a debt.' The notion of refinancing has evolved alongside the financial industry's development, particularly in the context of the housing market and consumer credit. As financial institutions began offering various loan products in response to economic changes, the practice of refinancing grew in popularity. Throughout the 20th century, especially during periods of economic fluctuations and interest rate changes, homeowners increasingly sought refinancing as a strategy to achieve more favorable loan conditions. The term illustrates the dynamic nature of personal finance and reflects broader economic conditions impacting borrowers' decisions.

Word Frequency Rank

This word's position of #31,096 indicates it's among the more rare English words. While understanding it broadens your vocabulary, focus on more common words first.