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Glossary of Terms > R > Refinance

Refinance

Paying off an old loan while simultaneously taking a new one. This may be done to reduce borrowing costs under conditions where the borrower can obtain a new loan at an interest rate below the rate on the existing loan. It may be done to raise cash, as an alternative to a home equity loan. Or it may be done to reduce the monthly payment.

R Terms

Rate Lock

Rate Protection

Rate Sheets

Real Estate

Real Estate Agent

Real Estate Developer

Real Estate Investment Trust

Realtor

Recorder

Refinance

Refinancing

Reinsurance

Remaining Term

Renter's Insurance

Reserves

Reverse Mortgage

Revolving Debt

Right of First Refusal

Right of Ingress

Right of Recession