Refinance Term Meaning in Real Estate - Guide

Refinancing refers to changing the interest rate and other terms of the loan.

Kopal Cheema

7 years ago

Published Date: Apr 02, 2018

Updated Date: Mar 27, 2024

Also known as debt restructuring, refinancing occurs when a business or person revises the interest rate, payment schedule and terms of a previous credit agreement. It involves the revaluation of an entities credit terms and credit status.

A loan (debt) might be refinanced to take advantage of a better interest rate. Mortgage loans are often considered for refinancing.

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