Meaning & use
mortgage
A loan used to purchase property, in which the property itself serves as security until the loan is fully repaid.
See it in a sentence
They took out a thirty-year mortgage to buy their first house.
Rising interest rates made the monthly mortgage payment much higher than expected.
A note on using this word
If a borrower fails to make payments, the lender can seize the property through foreclosure, since the mortgage uses it as collateral.
Words with a similar meaning
home loan
Choose a synonym to suit the sentence. Meanings can overlap without being identical.
Make it your own
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