mortgage
MAW-gihj
Mortgage (noun) means a loan used to buy property, where the property itself is used as security for the debt. Example: “After years of saving, she finally paid off her mortgage.”
noun
1
A loan used to buy property, where the property itself is used as security for the debt.
"After years of saving, she finally paid off her mortgage."
"They took out a 25-year mortgage to buy their first house."
"Rising interest rates pushed up monthly mortgage payments across the country."
verb
1
To borrow money against a property, or to risk something valuable in order to get an immediate benefit.
"Having mortgaged the farm twice, they struggled to keep up with the repayments."
"They mortgaged the family home to fund the new business."
"He joked that he was mortgaging his future to pay for this year's holiday."
How to use mortgage
Learner’s notesIn plain EnglishA loan specifically for buying property, secured against that property.
Easily confused with
Common pairings
take out a mortgage
pay off a mortgage
mortgage payments
mortgage rate
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Word forms
- Plural
- mortgages
- Third person singular
- mortgages
- Past tense
- mortgaged
Fill the gap
Can you complete this real example?
After years of saving, she finally paid off her _____.
Etymology
From Old French mort gage, literally "dead pledge" — because the arrangement ended ("died") either when the debt was paid off or when the property was taken.
Synonyms
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home loan
property loan
Rhymes for mortgage
See all rhymes for mortgage →Frequently asked questions
What does “mortgage” mean?
The word “mortgage” means a loan used to buy property, where the property itself is used as security for the debt. In plain terms, a loan specifically for buying property, secured against that property.
How do you pronounce “mortgage”?
“Mortgage” is pronounced MAW-gihj (/ˈmoɹ.ɡɪd͡ʒ/ in IPA).
How do you use “mortgage” in a sentence?
Here is “mortgage” used in a sentence: “They took out a 25-year mortgage to buy their first house.”
What part of speech is “mortgage”?
Depending on how it is used, “mortgage” can be a noun and a verb.
Where does the word “mortgage” come from?
The word “mortgage” comes from Old French. From Old French mort gage, literally "dead pledge" — because the arrangement ended ("died") either when the debt was paid off or when the property was taken.
Is “mortgage” a common word?
“Mortgage” is a fairly common word in modern English, usually learned at around the B2 level.
How many meanings does “mortgage” have?
“Mortgage” has 2 distinct senses listed in this dictionary. The most common is: a loan used to buy property, where the property itself is used as security for the debt.
What is the difference between a mortgage and a loan?
A mortgage is a specific type of loan used to buy property, with the property itself serving as security for the debt, meaning the lender can take the property if the borrower fails to repay. "Loan" is the general term for any borrowed money, secured or not.
Who is the mortgagor and who is the mortgagee?
The mortgagor is the borrower, the person who offers their property as security for the loan. The mortgagee is the lender, usually a bank or building society, that provides the money. The pairing trips people up because the "-or" ending goes to the homeowner, not the bank.
Why is mortgage spelled with a silent t?
The spelling preserves the word's Old French origin, from elements meaning "dead pledge." English kept the French spelling even though the t is not pronounced, which is why "morgage" is a common misspelling to watch for.
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