1
: a conveyance (see conveyance sense 2a) of or lien against property (as for securing a loan) that becomes void upon payment or performance according to stipulated terms
took out a mortgage in order to buy the house
mortgaged; mortgaging
1
: to grant or convey by a mortgage
2
: to subject to a claim or obligation : pledge
Synonyms
Examples of mortgage in a Sentence
Noun
He will have to take out a mortgage in order to buy the house.
They hope to pay off the mortgage on their home soon.
Verb
She mortgaged her house in order to buy the restaurant.
I've mortgaged all my free time this week to the hospice and won't be able to come to the party.
Recent Examples on the Web
Jc Reindl, Detroit Free Press, 21 Nov. 2024
With ample savings, happy retirees tend not to retire until the mortgage is paid off or the end is at least within sight.
—Wes Moss, Forbes, 21 Nov. 2024
Darnell Mayberry, The Athletic, 1 Aug. 2024
The Kim family has been mortgaging its own claims to North Korean power for generations.
—Jonathan Corrado, Foreign Affairs, 13 Mar. 2016
See all Example Sentences for mortgage 
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Noun
Conventional mortgage rates would be 6.1% in 2025 and 5.8% in 2026.
—Jc Reindl, Detroit Free Press, 21 Nov. 2024
With ample savings, happy retirees tend not to retire until the mortgage is paid off or the end is at least within sight.
—Wes Moss, Forbes, 21 Nov. 2024
Verb
Relinquishing five first-round draft picks in seven years is the definition of a franchise mortgaging its future.
—Darnell Mayberry, The Athletic, 1 Aug. 2024
The Kim family has been mortgaging its own claims to North Korean power for generations.
—Jonathan Corrado, Foreign Affairs, 13 Mar. 2016
See all Example Sentences for mortgage
Articles Related to mortgage
Dictionary Entries Near mortgage
Cite this Entry
“Mortgage.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/mortgage. Accessed 29 Nov. 2024.
Copy CitationKids Definition
mortgage
1 of 2 noun
mort·gage
ˈmȯr-gij 
1
: a transfer of rights to a piece of property (as a house) usually in return for a loan and that is canceled when the loan is paid
2
: the document recording such a transfer
mortgage
2 of 2 verb
mortgaged; mortgaging
1
: to transfer rights to a piece of property by a mortgage
2
: to place under an obligation : pledge in advance
Legal Definition
mortgage
1 of 2 noun
mort·gage
ˈmȯr-gij
1
a
: a conveyance of title to property that is given to secure an obligation (as a debt) and that is defeated upon payment or performance according to stipulated terms
shows that a deed was intended only as a mortgage—W. M. McGovern, Jr. et al.
W. M. McGovern, Jr. et al.
b
: a lien against property that is granted to secure an obligation (as a debt) and that is extinguished upon payment or performance according to stipulated terms
creditors with valid mortgages against the debtor's property—J. H. Williamson
J. H. Williamson
c
: a loan secured by a mortgage
—
adjustable rate mortgage
: a mortgage having an interest rate which is usually initially lower than that of a mortgage with a fixed rate but which is adjusted periodically according to an index (as the cost of funds to the lender)
—
balloon mortgage
: a mortgage having the interest paid periodically and the principal paid in one lump sum at the end of the term of the loan
—
blanket mortgage
: a mortgage of or against all of the property of the mortgagor
—
chattel mortgage
: a mortgage of or against personal or movable property (as an airplane) compare pledge security interest sense 2 at interest sense 1
—
collateral mortgage
in the civil law of Louisiana
: a mortgage against movable or immovable property that is given to secure a written obligation (as a note) which is pledged as collateral security for a principal obligation see also collateral note at note
—
construction mortgage
: a mortgage that secures a loan which finances construction
—
conventional mortgage
in the civil law of Louisiana
: a mortgage that is created by a written contract
: a mortgage that is not guaranteed by a government agency
—
equitable mortgage
: a constructive or implied mortgage : a transaction (as a conveyance) that does not have the form of a mortgage but is given the effect of a mortgage by a court of equity because the parties intended it to be a mortgage
—
first mortgage
: a mortgage that has priority over all other security interests except those imposed by law
—
fixed rate mortgage
: a mortgage having an interest rate that stays the same
—
general mortgage
in the civil law of Louisiana
: a blanket mortgage that burdens all present and future property
—
home equity conversion mortgage
: reverse mortgage in this entry
—
judicial mortgage
in the civil law of Louisiana
: a mortgage lien that secures a judgment debt and is created by filing a judgment with the recorder of mortgages
—
junior mortgage
: second mortgage in this entry
—
leasehold mortgage
: a mortgage under which a leasehold interest in property secures a loan or obligation
—
legal mortgage
in the civil law of Louisiana
: a mortgage that secures an obligation which is created by a law and which does not have to be stipulated to by the parties
—
open-end mortgage
: a mortgage that secures a loan agreement which allows the mortgagor to borrow additional sums usually up to a specified limit
—
purchase money mortgage
: a mortgage that is given (as to a lender) to secure a loan for all or some of the purchase price of property
also
: a mortgage given to a seller of property to secure the unpaid balance of the purchase price
—
reverse mortgage
: a mortgage that allows elderly homeowners to convert existing equity into available funds provided through a line of credit, a cash advance (as for the purchase of an annuity), or periodic disbursements to be repaid with interest when the home is sold or ceases to be the primary residence, when the borrower dies or some other specified event occurs, or at a fixed maturity date
—
second mortgage
: a mortgage lien that is subordinate in priority to a first mortgage
called also junior mortgage
—
senior mortgage
: first mortgage in this entry
—
special mortgage
: a mortgage on specified property
—
wrap-around mortgage
\
ˈrap-ə-ˌrau̇nd-
\
: a second or later mortgage that incorporates the debt of a previous mortgage with additional debt for another loan
2
a
: an instrument embodying and containing the provisions of a mortgage
executing and recording mortgages
b
: the interest of a mortgagee in mortgaged property
the bank holds the mortgage
mortgage
2 of 2 transitive verb
mortgaged; mortgaging
1
: to grant or convey by a mortgage
mortgaged the property to the bank
2
: to encumber with a mortgage
Etymology
Noun
Anglo-French, from Old French, from mort dead (from Latin mortuus) + gage security
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