Definition of Mortgage

a loan given from a financial institution for a person’s property which causes the person to pay it back plus interest

Examples of Mortgage in a sentence

The newly married couple checked the rates on the mortgage to determine how much they would have to pay for their dream home.  🔊

When the homeowner lost her job, she was unable to pay the mortgage on her home resulting in a foreclosure.  🔊

Usually the most expensive monthly bill is the mortgage because this loan is for the most expensive item they own, a house.  🔊

The terms of the mortgage included the interest rate at 3.92% with a fixed rate for 30 years.  🔊

After the retired couple paid off their 25-year mortgage on their condo, they celebrated with a party.  🔊

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