mortgage
/ˈmɔːrɡɪdʒ/
verb
- To borrow money using property as security for the loan.
- He decided not to mortgage the house because the interest rates were too high.
- She mortgaged the farm to pay for her children's education.
- They mortgaged their home to start a small business.
- To commit or pledge something valuable (such as time, effort, or future resources) to achieve a goal, often with risk.
- By taking this job, she mortgaged her free time for the next five years.
- They mortgaged their reputation by supporting that controversial policy.
- The company mortgaged its future profits to fund the new project.
noun
- A loan agreement in which a bank or other lender gives money to buy property (like a house), and the property is used as security until the loan is paid back.
- They took out a 30-year mortgage to buy their first home.
- The bank approved their mortgage application after checking their credit score.
- She pays her mortgage every month without fail.
- The amount of money borrowed under such a loan agreement.
- The mortgage on the apartment is almost half a million dollars.
- He managed to pay off his mortgage in just 15 years.
- They still owe a large mortgage on the house.