mortgage
Intermediate (B1)
IPA: /ˈmɔːɡɪdʒ/
KK: /ˈmɔrɡɪdʒ/
noun
Definition
A legal agreement where a person borrows money to buy property and pays it back over time, using the property as security for the loan.
Example
They took out a mortgage to buy their first home.
Conversation
Have you thought about getting a mortgage for your new house?
Yeah, I've been looking into it, but it's a big commitment.
I totally understand, a mortgage can be a bit overwhelming at first.
But I guess it's worth it if it means owning a home.
Synonyms & Antonyms
Synonyms
loan
debt
lien
Antonyms
asset
ownership
freehold
transitive verb
Definition
To pledge property as security for a loan, usually to buy a home or other real estate.
Example
They decided to mortgage their house to finance their new business.
Tense Forms
Past: mortgaged
Past Participle: mortgaged
Conversation
Did you hear that Mark had to mortgage his house to start that new business?
Wow, that's a big risk! I hope it pays off for him.
Yeah, I can't believe he would mortgage so much for it.
Root Explanation
Mortgage → It is formed from "mort" (from Old French *mort*, meaning dead) and "gage" (from Old French *gage*, meaning pledge or guarantee). The term originally referred to a pledge that would become void (or 'dead') if the obligation was not fulfilled, hence the meaning of a loan secured by property.
Memory Tip
Think of a 'pledge' ('gage') that becomes 'dead' ('mort') if the loan is not repaid — that's why a mortgage is a loan secured by property.
Visually Confused Words
unmortgage
remortgage
unmortgaged
submortgage
comortgagee
portage
overmortgage
moorage