refi

Also found in: Dictionary, Thesaurus, Legal, Acronyms, Idioms, Wikipedia.

Refinance

To repay a loan by taking out another loan. Refinancing can allow one to secure a lower interest rate; for example, one can replace a loan at an 8.5% rate with one at 5.5%. In the case of a balloon loan, refinancing can repay the principal if one does not have sufficient funds to do it; that is, if one has made only interest payments over the life of the loan and has not saved the principal amount when the loan comes due, refinancing can prevent bankruptcy. There are two main drawbacks to refinancing. First, there is no certainty that one will be approved for it. One thus takes a risk every time one decides to make only interest payments on a loan or mortgage. Secondly, refinancing generally resets the repayment period; that is, if one refinances six years into a 10 year loan, the one generally repays the new loan over 10 years instead of the remaining four.

refi

Shorthand for refinance.

Mentioned in ?

References in periodicals archive ?

i]} are exact zeros of p(z), REFI is guaranteed to produce the optimal approximations to each [[xi].

Numerical condition of polynomials in different forms

Although Crigler is taking a wait-and-see attitude toward HARP-driven refis, he could find the purchase market strengthening in 2012.

Will HARP play for brokers?

The project REFI writing guidelines for vehicle maintenance is a project for procurement: an IT system for the creation and editing of technical documents, management: the current versions of all documentation, and secure processing and: Steps to change the documents and their contents.

EBA / EU method "writing guidelines vehicle maintenance at remote DB and DB Regio (REFI)"

EU: ECB RATE ANNOUNCEMENT The refi rate is expected to be held while the focus remains on supporting the banks and pressuring the government to deliver structural reforms and fiscal discipline for banks.

ECONOMIC DATA

At most any other point in history, rates this low would send homes flying off the market and would jam the phone lines with refi requests.

Staying afloat in tough times

We have institutional buyers looking to make steady cash returns instead of local entrepreneurs able to do a cash out refi in five years or a flip in three.

Are valuation rules changing? The Americanization of residential real estate

The Danish Issuing Institute's decision not to change the rate reduced the base rate differential between themselves and the Refi to 0.

EMU: ECB SPRINGS A SURPRISE INTEREST RATE RISE

Near-term inflation looks to have peaked, and looks set to prompt the ECB to cut the refi rate to 1% by January.

ECONOMIC DATA

Central bank officials have repeatedly said that rates are appropriate for now and in our central scenario we see the refi rate remaining at 1.