mortgage

American  

[mawr-gij] / ˈmɔr gɪdʒ /

noun

• mortgages
  plural

1. a conveyance of an interest in real property as security for the repayment of money borrowed to buy the property; a lien or claim on property such that the lender can take possession if the loan is not repaid.

2. the deed by which such a transaction is effected.

3. the rights conferred by such a transaction, or the state of the property conveyed: I own a house under mortgage.

   The bank holds a mortgage on his farm.

   I own a house under mortgage.

4. the total loan obtained or the periodic installment to be paid under such a transaction.

   They took out a $500,000 mortgage.

5. the obligation to repay such a loan; the debt incurred.

6. an advance obligation or pledge, usually involving some risk.

   Without good maternity care, some babies will be born with a long-term mortgage on their future health.

---

verb (used with object)

• mortgages,
  present (3rd person singular)
• mortgaged,
  past participle,  past
• mortgaging
  present participle

1. to convey or place (real property) under a mortgage.

2. to place under advance obligation; to pledge, usually taking on some risk.

   to mortgage one's life to the defense of democracy.

mortgage British  

/ ˈmɔːɡɪdʒ /

noun

1. an agreement under which a person borrows money to buy property, esp a house, and the lender may take possession of the property if the borrower fails to repay the money

2. the deed effecting such an agreement

3. the loan obtained under such an agreement

   a mortgage of £48 000

4. a regular payment of money borrowed under such an agreement

   a mortgage of £247 per month

---

verb

1. to pledge (a house or other property) as security for the repayment of a loan

adjective

1. of or relating to a mortgage

   a mortgage payment

mortgage Cultural  

1. A legal agreement that creates an interest in real estate between a borrower and a lender. Commonly used to purchase homes, mortgages specify the terms by which the purchaser borrows from the lender (usually a bank or a savings and loan association), using his or her title to the house as security for the unpaid balance of the loan.

---

Other Word Forms

Derived Forms

• submortgage
  noun
• overmortgage
  verb
• remortgage
  verb (used with object)
• unmortgage
  verb (used with object)
• mortgageable
  adjective

Inflected Forms

Nouns

• mortgages
  plural

Participles

• mortgaging
  present
• mortgaged
  past

Conjugated Forms

Present

• mortgage
  simple
• mortgages
  simple
• have mortgaged
  perfect
• has mortgaged
  perfect
• am mortgaging
  progressive
• are mortgaging
  progressive
• is mortgaging
  progressive
• have been mortgaging
  perfect progressive
• has been mortgaging
  perfect progressive

Past

• mortgaged
  simple
• had mortgaged
  perfect
• was mortgaging
  progressive
• were mortgaging
  progressive
• had been mortgaging
  perfect progressive

Future

• will mortgage
  simple
• will have mortgaged
  perfect
• will be mortgaging
  progressive
• will have been mortgaging
  perfect progressive

Etymology

Origin of mortgage

First recorded in 1350–1400; earlier morgage, Middle English, from Old French mortgage, equivalent to mort “dead” (from Latin mortuus ) + gage “pledge”; see gage ¹

Explanation

A mortgage is a loan in which the lender may use your property as payment if you don't pay back the loan. Offer your friend a mortgage for the $20 he wants...with his bike as security. Most people obtain a mortgage when they buy a house. The bank extends the loan because of the guarantee that the house will be the bank’s to sell if the debt isn’t repaid. When you make this deal, you have mortgaged your house — the word mortgage can be used as a noun or a verb.

Example Sentences

See Examples For:

mortgage mortgages mortgaged mortgaging

After a massive run-up in home prices during the pandemic, mortgage rates doubled from 3.22% at the start of the year to 6.42% at the end of 2022.

From MarketWatch ● Aug. 28, 2026

Consumer and mortgage lending data for July are released by the Bank of England on Tuesday, as well as the British Retail Consortium’s shop price index survey for August.

From The Wall Street Journal ● Aug. 28, 2026

Home prices have continued to rise, and the average 30-year mortgage was 6.66% on Thursday, according to Freddie Mac.

From MarketWatch ● Aug. 28, 2026

If you’re buying into a condo association, the reserves could affect your ability to get a mortgage.

From The Wall Street Journal ● Aug. 27, 2026

The only problem was that there was no such thing as a credit default swap on a subprime mortgage bond, not that he could see.

From "The Big Short" by Michael Lewis

Insurers tend to buy longer-dated bonds and mortgages that pay out cash for years, matching liabilities that stretch out decades.

From The Wall Street Journal ● Aug. 30, 2026

Such borrowing costs impact the cost of borrowing for mortgages, car loans and credit cards.

From BBC ● Aug. 28, 2026

Experts told MarketWatch that the reasons are structural and decades in the making: The 2008 financial downturn led to tightened underwriting standards, making it more difficult for young people to qualify for mortgages.

From MarketWatch ● Aug. 26, 2026

The reason: Private borrowing collapsed, and securities once thought safe, such as triple-A rated mortgages, turned out not to be safe.

From The Wall Street Journal ● Aug. 20, 2026

The government offered very generous terms and incentives to relocate to the big towns, mortgages and tax relief.

From "The Underground Railroad: A Novel" by Colson Whitehead

A bit more examination reveals that Rory’s heavily mortgaged ancestral manse is ripe for foreclosure, so the shrewd Birdie and a few new acquaintances step in with an unorthodox plan to stop such proceedings.

From The Wall Street Journal ● May 15, 2026

In 1992 he mortgaged his house in order to part-fund a deal to buy a chemicals company that BP was selling.

From BBC ● Feb. 12, 2026

Put differently, the average mortgaged homeowner now spends more than a full month’s housing payment each year on insurance.

From Barron's ● Jan. 27, 2026

The couple mortgaged their Hollywood Hills home again and again to finance his films, she said, in an effort to remain independent from the tight reins of Hollywood.

From Los Angeles Times ● Aug. 14, 2024

She mortgaged her property and borrowed money from a neighbor for her journey.

From "Enrique's Journey" by Sonia Nazario

“Russia would be further mortgaging its future for the sake of military gains,” said Alexander Kolyandr, a director at the consulting firm Eurasia Group.

From The Wall Street Journal ● Aug. 23, 2026

Mid-cap players are mortgaging chunks of their businesses to get in on the action, too.

From Barron's ● Oct. 14, 2025

The group’s longtime leader, Carol Schatz, told the City Council at a public hearing that the city was mortgaging its future in a “misguided attempt to buy temporary peace with activists.”

From Los Angeles Times ● Jul. 10, 2025

But if they stay in an attempt to hold on to a core piece of identity, are they mortgaging their future?

From Seattle Times ● Sep. 12, 2023

Almost immediately, the financial slide began, but was artificially buoyed by extravagant bank loans that Chacko raised by mortgaging the family’s rice fields around the Ayemenem House.

From "The God of Small Things" by Arundhati Roy

Related Words

• contract
• debt