Definition Of Refinancing

Hey buddy can you please define me what is Refinancing and please also get some information about it so that I can have idea about it?

[Kiran Chandar]

As per your demand I will tell you what refinancing is and will also get some information about it so that you have go idea about it.


Refinancing means to replace existing debt with another debt under different terms. such as, inherent risk, projected risk, political stability of a nation, currency stability, banking regulations, borrower's credit worthiness, and credit rating of a nation.

Reason for Refinancing

To take advantage of a better interest rate

To consolidate other debt(s) into one loan

To reduce the monthly repayment amount

To reduce or alter risk

To free up cash

Types of Refinancing

FHA Streamline Refinance

VA Loan Refinance

HARP Refinance

USDA Home Loans