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- Dictionarymortgage/ˈmɔːɡɪdʒ/
noun
- 1. a legal agreement by which a bank, building society, etc. lends money at interest in exchange for taking title of the debtor's property, with the condition that the conveyance of title becomes void upon the payment of the debt: "I put down a hundred thousand in cash and took out a mortgage for the rest"
verb
- 1. convey (a property) to a creditor as security on a loan: "the estate was mortgaged up to the hilt"
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Jun 12, 2024 · A mortgage is a loan used to purchase or maintain a home, plot of land, or other real estate. The borrower agrees to pay the lender over time, typically in a series...
May 16, 2023 · A home mortgage is a loan given by a bank, mortgage company, or other financial institution for the purchase of a residence. A home mortgage will have either a fixed...
A mortgage loan or simply mortgage ( / ˈmɔːrɡɪdʒ / ), in civil law jurisdictions known also as a hypothec loan, is a loan used either by purchasers of real property to raise funds to buy real estate, or by existing property owners to raise funds for any purpose while putting a lien on the property being mortgaged.
The meaning of MORTGAGE is a conveyance of or lien against property (as for securing a loan) that becomes void upon payment or performance according to stipulated terms. How to use mortgage in a sentence.
Jan 10, 2023 · A mortgage is money that you borrow from banks or other financial institutions for the purpose of buying a property or refinancing existing debt on a home. You must repay the loan with interest over an agreed period. Table of Contents. How Does A Mortgage Work? Types Of Mortgages Available In Singapore. How To Calculate Mortgage Loans In Singapore.
Apr 25, 2024 · A mortgage is a loan from a lender that gives borrowers the money they need to buy or refinance a home. The borrower agrees to pay back the lender with monthly mortgage payments that include principal, interest and other fees. Mortgages are secured loans, and secured loans are backed by collateral.
Oct 25, 2023 · A mortgage is a loan used to buy a home. You repay the loan, with interest, over a set number of years. The property serves as collateral, meaning if you don't pay,...
Jun 19, 2020 · A mortgage is a type of loan that is secured by real estate. When you get a mortgage, your lender takes a lien against your property, meaning that they can take the property if...
May 28, 2024 · A mortgage is an agreement between you and a lender that gives the lender the right to take your property if you don’t repay the money you’ve borrowed plus interest. Mortgage loans are used to buy a home or to borrow money against the value of a home you already own.
An adjustable-rate mortgage (ARM) is a home loan with an interest rate that can fluctuate periodically based on the performance of a specific benchmark. ARMs generally have caps that...
