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What is another word for refinancing?

2 synonyms found

Pronunciation:

[ ɹɪfa͡ɪnˈansɪŋ], [ ɹɪfa‍ɪnˈansɪŋ], [ ɹ_ɪ_f_aɪ_n_ˈa_n_s_ɪ_ŋ]

The act of refinancing generally refers to obtaining a new loan to replace an existing one. Synonyms for refinancing include loan modification, debt restructuring, and mortgage renewal. Other synonyms that may apply include loan consolidation, debt consolidation, and loan reorganization. Refinancing typically occurs when a borrower finds a better interest rate or terms of the loan than what they currently have, or they may need to restructure their debt in a more advantageous manner. By utilizing these synonyms, borrowers can effectively communicate their intentions to lenders, with the hope of securing a more favorable loan.

Synonyms for Refinancing:

How to use "Refinancing" in context?

When it comes to refinancing, there are many factors to consider.

The loan amount, interest rate, term, and prepayment penalties are just a few.

Ideally, you want a refinancing that will lower your overall interest bill and save you money over the life of the loan.

Here are a few tips to get the best refinancing deal for you:

1. Compare interest rates.

Two of the most important factors to consider when refinancing your loan are the interest rate and loan term.

Paraphrases for Refinancing:

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Synonyms:
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