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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 of...
What is a Mortgage? A mortgage or mortgage loan is a loan for immovable property. Here the lender keeps property as collateral up until the borrower repays the total amount plus interest. Most people who buy a home, do it with a mortgage. It is of great use if you can’t pay the full amount by yourself. Approved mortgage loan agreement application.
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 primary residence, a secondary residence, or an investment...
an agreement that allows you to borrow money from a bank or similar organization, especially in order to buy a house, or the amount of money itself: They took out a £400,000 mortgage (= they borrowed £400,000) to buy the house. a monthly mortgage payment. Fewer examples.
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.
Aug 18, 2022 · 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 you...
Oct 25, 2023 · A mortgage is a loan used to buy a home. The property is collateral for the loan, which is paid off after a set number of years.
Word of the Day. 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.
Sep 11, 2023 · A mortgage is a loan you take out on a piece of land or real estate when you don’t have all the cash-on hand to buy, improve or maintain it on your own.
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.
