“I'd like to speak with someone about refinancing my home.”
You bought a home several years ago with a loan. Now the interest rates for mortgages are a lot lower than when you bought the house, so you'd like to borrow money at a lower rate to pay back your original loan. You go into your bank and say this to the receptionist.
I'd like to speak with someone about refinancing my home.
"I'd like to..." is an abbreviation of "I would like to..." Use this phrase to ask for services at stores, banks, and so on:
I'd like to send this via registered mail.
I'd like to cancel my membership.
You can also use it in an email to someone when you're in a position of authority, like when you're acting as a customer.
It's also possible to write "I'd like to ___" in emails to your boss, if you're doing something that's normal and expected. For example, if you have a specific number of vacation days that you can use, and you're allowed to use them whenever you want, you can write:
I'd like to take off the week of April 3rd.
The words "house" and "home" are very close in meaning, so sometimes it's difficult to know which one to use. In the example above, either one would work. However, a "home" could include a house, a condominium, an apartment, or other types of living places. A "house" is more specific.
We also tend to use the word "home" when talking about owning, buying, or selling a house.
"Speaking with" someone means having a conversation.
You can also use the preposition "to" after "speak". This is more appropriate when you're talking to an audience that's not speaking back to you very much. For example, you use "speak to" when someone talks to a large group:
My kid's teacher asked me to speak to the class about my experiences as an emergency room nurse.
Use the preposition "about" to introduce the topic of the conversation:
I spoke with her about her tardiness. She assured me that it would not happen again.
"Speak" and "talk" mean the same thing. "Speak" sounds just a little more formal, though.
When you borrow money to buy something, you agree to pay a certain interest rate. For some kinds of home loans (called "fixed-rate mortgages"), the interest rate is set when the loan starts and doesn't change. However, if loans with lower interest rates become available, you might decide that you want to "refinance" your mortgage. This means borrowing money at a lower interest rate and using that money to pay back your original loan.
For example, imagine this situation:
- You bought an office building with a loan with 6.2% interest, which was a good rate at the time.
- Five years later, interest rates have gone down to 4.5%
- You borrow the amount left on your original loan and pay it off.
- Now you have a new loan with 4.5% interest.
The object of "refinance" can be the loan itself, or the thing that you bought with the loan:
I refinanced my home.
I refinanced my mortgage.
I refinanced the loan.