Search
Select the dictionary language
Mortgage
01
an official contract or arrangement by which a bank gives money to someone as a loan to buy a house and the person agrees to repay the loan over a specified period, usually with interest
Examples
They took out a mortgage to buy their first house in the suburbs.
The bank approved their mortgage application based on their credit history and income.
to mortgage
01
to offer a bank or other financial institutions a property of high value in exchange for a loan
Examples
They mortgaged their house to secure a business loan.
The bank required them to mortgage the property before approving the loan.
