mortgage
a conveyance of an interest in real property as security for the repayment of money borrowed to buy the property; a lien or claim on property such that the lender can take possession if the loan is not repaid.
the deed by which such a transaction is effected.
the rights conferred by such a transaction, or the state of the property conveyed: The bank holds a mortgage on his farm.I own a house under mortgage.
the total loan obtained or the periodic installment to be paid under such a transaction:They took out a $500,000 mortgage.
the obligation to repay such a loan; the debt incurred.
an advance obligation or pledge, usually involving some risk: Without good maternity care, some babies will be born with a long-term mortgage on their future health.
to convey or place (real property) under a mortgage.
to place under advance obligation; to pledge, usually taking on some risk: to mortgage one's life to the defense of democracy.
Origin of mortgage
1Other words from mortgage
- o·ver·mort·gage, verb, o·ver·mort·gaged, o·ver·mort·gag·ing.
- re·mort·gage, verb (used with object), re·mort·gaged, re·mort·gag·ing.
- sub·mort·gage, noun
- un·mort·gage, verb (used with object), un·mort·gaged, un·mort·gag·ing.
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2024
British Dictionary definitions for mortgage
/ (ˈmɔːɡɪdʒ) /
an agreement under which a person borrows money to buy property, esp a house, and the lender may take possession of the property if the borrower fails to repay the money
the deed effecting such an agreement
the loan obtained under such an agreement: a mortgage of £48 000
a regular payment of money borrowed under such an agreement: a mortgage of £247 per month
to pledge (a house or other property) as security for the repayment of a loan
of or relating to a mortgage: a mortgage payment
Origin of mortgage
1Derived forms of mortgage
- mortgageable, adjective
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012
Cultural definitions for mortgage
[ (mawr-gij) ]
A legal agreement that creates an interest in real estate between a borrower and a lender. Commonly used to purchase homes, mortgages specify the terms by which the purchaser borrows from the lender (usually a bank or a savings and loan association), using his or her title to the house as security for the unpaid balance of the loan.
The New Dictionary of Cultural Literacy, Third Edition Copyright © 2005 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.
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