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• The process of paying off an existing mortgage by taking out a new mortgage.

  The Federal Reserve Board - Cite This Source - This Definition
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  Cite Definition for Refinancing

  American Psychological Association (APA)

  Refinancing. (n.d.). A Consumer's Guide to Mortgage Refinancings. Retrieved April 1, 2023, from website: http://www.expertglossary.com/definition/refinancing.

  Chicago Manual of Style (CMS)

  Refinancing. www.federalreserve.gov. A Consumer's Guide to Mortgage Refinancings. The Federal Reserve Board. http://www.expertglossary.com/definition/refinancing (accessed: April 1, 2023).

  Modern Language Association (MLA)

  "Refinancing." A Consumer's Guide to Mortgage Refinancings. The Federal Reserve Board. 1 April. 2023 http://www.expertglossary.com/definition/refinancing.

• Refinancing is any dwelling-secured loan that replaces and satisfies another dwelling-secured loan to the same borrower. The purpose of the loan being refinanced is not relevant to determining whether the new loan is a refinancing for HMDA purposes. Nor is the borrower's intended use of any additional cash borrowed relevant to determining whether the loan is a refinancing, though the borrower's intended use of the funds could make the transaction a home improvement loan or a home purchase loan. See the definitions of "home purchase loan" and "home improvement loan." Also see the rule on multipurpose loans on page 12 of the HMDA guide (http://www.ffiec.gov/hmda/guide.htm).

  Federal Financial Institutions Examination Council - Cite This Source - This Definition
  ×

  Cite Definition for Refinancing

  American Psychological Association (APA)

  Refinancing. (n.d.). Home Mortgage Disclosure Act (HMDA) Glossary. Retrieved April 1, 2023, from website: http://www.expertglossary.com/definition/refinancing.

  Chicago Manual of Style (CMS)

  Refinancing. www.ffiec.gov. Home Mortgage Disclosure Act (HMDA) Glossary. Federal Financial Institutions Examination Council. http://www.expertglossary.com/definition/refinancing (accessed: April 1, 2023).

  Modern Language Association (MLA)

  "Refinancing." Home Mortgage Disclosure Act (HMDA) Glossary. Federal Financial Institutions Examination Council. 1 April. 2023 http://www.expertglossary.com/definition/refinancing.

• Browse Related Terms: Dwelling, Home Improvement Loan, Home Purchase Loan, Loan Purpose, Occupancy, Property Type, Refinancing

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