Cambridge Dictionaries online Cambridge Dictionaries online

The most popular online dictionary and thesaurus for learners of English

English definition of “mortgage”

mortgage

noun [C]
 
 
/ˈmɔːɡɪdʒ/ FINANCE, PROPERTY
a legal agreement to borrow money from a bank or other financial organization, especially to buy a house or other property, or the amount of money borrowed: apply for/take out/get a mortgage You take out a mortgage on your home at a fixed rate of interest. pay/pay off/repay a mortgage A large part of the money will be used to pay off a mortgage.mortgage payment/repayment Once the interest rate rises, they won't be able to afford their monthly mortgage payments.mortgage arrears/defaults Increases in unemployment will lead to a rise in mortgage arrears. a 15/25/30-year mortgage
→ See also adjustable rate mortgage, balloon mortgage, direct-reduction mortgage, endowment mortgage, equitable mortgage, first mortgage, legal mortgage, repayment mortgage, variable rate mortgage
(Definition of mortgage noun from the Cambridge Business English Dictionary © Cambridge University Press)
What is the pronunciation of mortgage?
Add Cambridge dictionaries to your browser to your website

Definitions of “mortgage” in other dictionaries

Word of the Day

maiden

a girl or young woman

Word of the Day

Countability – grammar codes

by Dom Glennon​​,
November 26, 2014
Advices and informations Have you ever noticed strange codes in square brackets on entries in Cambridge Dictionaries Online and wondered what they mean? These are grammar codes, giving you a brief summary of how that word behaves grammatically. More information can be obtained by hovering your cursor over the code, and there’s

Read More 

ped-text verb

November 24, 2014
to text someone while walking I’m ped-texting, I’m looking down at my phone, 75 percent of the time.

Read More