mortgage
A legal agreement where a bank or lender lends money at interest in exchange for taking title of the debtor's property. The property is used as security, meaning the bank can take the house if the money is not paid back.
Ejemplos
3 de 5We pay our mortgage to the bank every month.
We pay our mortgage to the bank every month.
The applicant must provide three months of bank statements to qualify for a mortgage.
The applicant must provide three months of bank statements to qualify for a mortgage.
I'm so happy because we finally paid off our mortgage today!
I'm so happy because we finally paid off our mortgage today!
Sinónimos
Antónimos
Familia de palabras
Truco para recordar
The word comes from 'mort' (dead) and 'gage' (pledge). Think of it as a 'dead pledge' because the deal ends (dies) when the money is paid back.
Quiz rápido
Since we want to buy a house but don't have enough cash, we need to ask the bank for a ____.
¡Correcto!
La respuesta correcta es: mortgage
Ejemplos
We pay our mortgage to the bank every month.
everydayWe pay our mortgage to the bank every month.
The applicant must provide three months of bank statements to qualify for a mortgage.
formalThe applicant must provide three months of bank statements to qualify for a mortgage.
I'm so happy because we finally paid off our mortgage today!
informalI'm so happy because we finally paid off our mortgage today!
The study examines how rising interest rates affect the demand for a mortgage.
academicThe study examines how rising interest rates affect the demand for a mortgage.
The firm decided to take out a mortgage on the new office building.
businessThe firm decided to take out a mortgage on the new office building.
Sinónimos
Antónimos
Familia de palabras
Colocaciones comunes
Frases Comunes
second mortgage
second mortgage
underwater mortgage
underwater mortgage
chattel mortgage
chattel mortgage
Se confunde a menudo con
A loan is any borrowed money, but a mortgage is a specific type of loan used to buy property.
Rent is money paid to a landlord to live in a house; a mortgage is money paid to a bank to eventually own the house.
Notas de uso
In everyday English, people often say 'my mortgage' to refer to the monthly payment itself as well as the legal agreement.
Errores comunes
The 't' in mortgage is silent. Learners often mistakenly pronounce the 't'.
Truco para recordar
The word comes from 'mort' (dead) and 'gage' (pledge). Think of it as a 'dead pledge' because the deal ends (dies) when the money is paid back.
Origen de la palabra
Derived from Old French 'mort' (dead) and 'gage' (pledge), meaning the deal dies when the debt is paid.
Patrones gramaticales
Contexto cultural
In many Western countries, obtaining a mortgage is considered a major milestone in adulthood and the primary way to build personal wealth.
Quiz rápido
Since we want to buy a house but don't have enough cash, we need to ask the bank for a ____.
¡Correcto!
La respuesta correcta es: mortgage
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