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Refinance

Refinancing refers to the process of replacing an existing loan with a new loan that has better terms or a lower interest rate. This can be a useful strategy for borrowers who have improved their credit score, have built up equity in their home or other asset, or are looking for a way to lower their monthly loan payments. Continue Reading Below

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Related Topics

SuperMoney Quote Engines

Get Competing Auto Refinance Offers

Compare Student Loan Refinancing

Industry Studies

Auto Loan Statistics 2026: Average Car Payment, Rates, Debt and Delinquency in Every State Thumbnail

Auto Loan Statistics 2026: Average Car Payment, Rates, Debt and Delinquency in Every State

Andrew Latham

Encyclopedia Articles

Discover the definition of financial terms related to refinance.

What is a Home Equity Investment Agreement (HEA/HEI)? Thumbnail

What is a Home Equity Investment Agreement (HEA/HEI)?

Andrew Latham

Non-Recourse Loan: How It Works vs. Recourse Debt Thumbnail

Non-Recourse Loan: How It Works vs. Recourse Debt

Andrew Latham

Minimum Payment: What It Is and Why Paying Only It Costs You Thumbnail

Minimum Payment: What It Is and Why Paying Only It Costs You

Andrew Latham

Unsubsidized Loan: How It Works vs. Subsidized Thumbnail

Unsubsidized Loan: How It Works vs. Subsidized

Andrew Latham

Parent PLUS Loan: Rates, Requirements, and Repayment Options Thumbnail

Parent PLUS Loan: Rates, Requirements, and Repayment Options

Andrew Latham

Student Loan Rehabilitation: How to Remove a Default from Your Credit Report Thumbnail

Student Loan Rehabilitation: How to Remove a Default from Your Credit Report

Andrew Latham

Credit Card Payoff Calculator: How to Calculate Your Payoff Date and Total Interest Thumbnail

Credit Card Payoff Calculator: How to Calculate Your Payoff Date and Total Interest

Andrew Latham

Loan to Value (LTV): Definition, How It's Calculated, and Why It Matters Thumbnail

Loan to Value (LTV): Definition, How It's Calculated, and Why It Matters

Andrew Latham

Balloon Payment: Definition, How It Works, and Pros and Cons Thumbnail

Balloon Payment: Definition, How It Works, and Pros and Cons

Andrew Latham

Student Loan Deferment: Options, Impact & Alternative Strategies Thumbnail

Student Loan Deferment: Options, Impact & Alternative Strategies

Andrew Latham

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Learn About Refinance

Thumbnail for Blog Article: Auto Loan Statistics 2026: Average Car Payment, Rates, Debt and Delinquency in Every State

Auto Loan Statistics 2026: Average Car Payment, Rates, Debt and Delinquency in Every State

Andrew Latham

Thumbnail for Blog Article: How To Get Out of Debt: Ultimate Guide to Being Debt Free

How To Get Out of Debt: Ultimate Guide to Being Debt Free

Andrew Latham

Thumbnail for Blog Article: How To Settle Credit Card Debt When a Lawsuit Has Been Filed

How To Settle Credit Card Debt When a Lawsuit Has Been Filed

David Hodges

Thumbnail for Blog Article: Can You Refinance Your Home After Bankruptcy?

Can You Refinance Your Home After Bankruptcy?

Justin Smith

Thumbnail for Blog Article: One in Five New Car Buyers Now Pays $1,000 a Month. Here's How to Keep Your Payment Under Control

One in Five New Car Buyers Now Pays $1,000 a Month. Here's How to Keep Your Payment Under Control

SuperMoney Team

Thumbnail for Blog Article: Best Auto Loans For Bad Credit in 2026

Best Auto Loans For Bad Credit in 2026

Audrey Henderson

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About Refinance

Refinancing refers to the process of replacing an existing loan with a new loan that has better terms or a lower interest rate. This can be a useful strategy for borrowers who have improved their credit score, have built up equity in their home or other asset, or are looking for a way to lower their monthly loan payments. When refinancing a loan, the borrower will apply for a new loan and use the proceeds to pay off their existing loan. The new loan will have its own terms and interest rate, and the borrower will be required to make regular payments of principal and interest. It is important to carefully consider the costs and potential benefits of refinancing before deciding if it is right for you.