mortgage
word
Definition
A mortgage is a loan used to buy a home or other property, which is then used as security for the loan. If the borrower does not make the payments, the lender can take the property.
Usage & Nuances
Most often refers to a home loan. Common collocations are 'take out a mortgage', 'pay off a mortgage', 'mortgage rates', and 'monthly mortgage payment'. In everyday speech, people may say 'mortgage' when they mean both the loan and the monthly payment.
Example Sentences
Her mortgage payment is due tomorrow.
basic
We still have twenty years left on our mortgage.
basic
Half my paycheck seems to go straight to the mortgage.
natural
They got a mortgage to buy their first house.
basic
We're thinking about refinancing our mortgage while rates are low.
natural
They finally paid off their mortgage, and you could see the relief on their faces.
natural