[ mawr-gij ]
See synonyms for: mortgagemortgagedmortgaging on

  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.

  1. the rights conferred by such a transaction, or the state of the property conveyed:The bank holds a mortgage on his farm.I own a house under mortgage.

  2. the total loan obtained or the periodic installment to be paid under such a transaction:They took out a $500,000 mortgage.

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

  4. 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),mort·gaged, mort·gag·ing.
  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.

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 gage1

Other words from mortgage

  • o·ver·mort·gage, verb, o·ver·mort·gaged, o·ver·mort·gag·ing.
  • re·mort·gage, verb (used with object), re·mort·gaged, re·mort·gag·ing.
  • sub·mort·gage, noun
  • un·mort·gage, verb (used with object), un·mort·gaged, un·mort·gag·ing.

Words Nearby mortgage Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2023

How to use mortgage in a sentence

British Dictionary definitions for mortgage


/ (ˈmɔːɡɪdʒ) /

  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

  1. the loan obtained under such an agreement: a mortgage of £48 000

  2. a regular payment of money borrowed under such an agreement: a mortgage of £247 per month

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

  1. of or relating to a mortgage: a mortgage payment

Origin of mortgage

C14: from Old French, literally: dead pledge, from mort dead + gage security, gage 1

Derived forms of mortgage

  • mortgageable, adjective

Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012

Cultural definitions for mortgage


[ (mawr-gij) ]

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.

The New Dictionary of Cultural Literacy, Third Edition Copyright © 2005 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.