A fuller guide to this term is on the way. In the meantime, the related terms below explain the ideas around it.
Related Brickyard terms
- MortgageA loan used to buy a home, where the property itself acts as collateral the lender can take if you stop paying.
- Auto LoanAn installment loan used to buy a vehicle, secured by the car, which the lender can repossess if you default.
- Private Student LoanAn education loan from a bank or lender, usually with terms based on your credit and fewer hardship protections than federal loans.
- Interest RateThe percentage a lender charges you to borrow money, or pays you to keep money deposited, over a set period.
- Loan TermThe length of time you have to repay a loan in full, which affects both your monthly payment and total interest paid.
Turn this into a brick
Knowing what Refinancing means is knowledge — the first half. A brick gets placed when you act on it.
More in Credit & Debt
Plain-English education — not personalized legal, tax, or investment advice.