mortgage

noun
UK: /ˈmɔːɡɪdʒ/
US: /ˈmɔːrɡɪdʒ/

  1. An agreement that allows you to borrow money from a bank, especially to buy a house.

    1. I need a mortgage to buy a house. [ ] [ ]
    2. They took out a mortgage to buy their dream home with a large garden. [ ] [ ]

  2. A legal agreement where you borrow money to buy land or a house and pay it back over many years.

    1. The bank holds the mortgage on our house. [ ] [ ]
    2. We paid off our mortgage after twenty years of making regular payments. [ ] [ ]

Synonyms

loan encumbrance debenture lien
mortgage verb

  1. To give a bank the legal right to own your house or land if you do not pay back the money that you borrowed.

    1. We had to mortgage our house. [ ] [ ]
    2. They mortgaged their home to start a new business, hoping for quick success. [ ] [ ]

  2. To borrow money using your house or land as a guarantee.

    1. Don't mortgage your future for short-term gains. [ ] [ ]
    2. She mortgaged her property in order to secure the necessary capital investment. [ ] [ ]

Frequently Asked Questions

The word "mortgage" in English means: An agreement that allows you to borrow money from a bank, especially to buy a house., A legal agreement where you borrow money to buy land or a house and pay it back over many years..

The phonetic transcription of "mortgage" is /ˈmɔːɡɪdʒ/ in British English and /ˈmɔːrɡɪdʒ/ in American English. Click the 🔊 button to hear both pronunciations.

Synonyms for "mortgage": loan, encumbrance, debenture, lien.

Example usage of "mortgage": "I need a mortgage to buy a house.". More examples on the page.