American Dictionary

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Definition mortgage in American English

mortgage noun

[countable] noun
/ˈmɔrɡɪdʒ/
1

a legal agreement in which you borrow money from a bank in order to buy a house. You pay back your mortgage by making monthly payments

Example

The mortgage has to be paid off in 15 years.

Example

On my present salary I can't get a mortgage.

Example

Do you have a mortgage on your house?

1.1

the amount of money that you borrow in a mortgage agreement

Example

a $70,000 mortgage

Synonyms and related words
Definition mortgage in American English