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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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Jul 19, 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...
apply for/take out/get a mortgage You take out a mortgage on your home at a fixed rate of interest. pay/pay off/repay a mortgage A large part of the money will be used to pay off a mortgage. mortgage payment/repayment Once the interest rate rises , they won't be able to afford their monthly mortgage payments .
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.
Mar 11, 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.
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.
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.
Nov 12, 2024 · A mortgage is a type of loan for buying a home. You'll choose from a conventional or government-backed mortgage, with either a fixed or adjustable rate. To get a mortgage, you'll...
May 7, 2024 · A mortgage is a long-term loan from a financial institution that helps you purchase a home, with the home itself serving as collateral. Mortgage payments typically consist of principal...
Oct 21, 2024 · A home mortgage is a loan given by a bank, mortgage company, or other financial institution for the purchase of a residence—a primary residence, a secondary residence, or an investment...
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,...
