noun
mortgage
MAW-gihj
noun
1
A loan used to buy property, where the property itself is used as security for the debt.
"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.
"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.
Common pairings
take out a mortgage
pay off a mortgage
mortgage payments
mortgage rate
Word Forms
mortgaged past tense, mortgages plural, mortgages singular
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They took out a 25-year _____ to buy their first house.
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.