Morgage vs. Mortgage — Which is Correct Spelling?

A conveyance of property on condition as a security for a loan.

An obligation or involvement binding someone.

The charging of property by a debtor to a creditor as security.

The deed by which such a transaction is affected.

A loan for the purchase of real property, secured by a lien on the property.

The document specifying the terms and conditions of the repayment of such a loan.

The repayment obligation associated with such a loan

The right to payment associated with such a loan

The lien on the property associated with such a loan.

To pledge (real property) as the security for a loan.

To make subject to a claim or risk; pledge against a doubtful outcome

(legal) A special form of secured loan where the purpose of the loan must be specified to the lender, to purchase assets that must be fixed (not movable) property, such as a house or piece of farm land. The assets are registered as the legal property of the borrower but the lender can seize them and dispose of them if they are not satisfied with the manner in which the repayment of the loan is conducted by the borrower. Once the loan is fully repaid, the lender loses this right of seizure and the assets are then deemed to be unencumbered.

(obsolete) State of being pledged.

To borrow against a property, to obtain a loan for another purpose by giving away the right of seizure to the lender over a fixed property such as a house or piece of land; to pledge a property in order to get a loan.

To pledge and make liable; to make subject to obligation; to achieve an immediate result by paying for it in the long term.

A conveyance of property, upon condition, as security for the payment of a debt or the preformance of a duty, and to become void upon payment or performance according to the stipulated terms; also, the written instrument by which the conveyance is made.

State of being pledged; as, lands given in mortgage.

To grant or convey, as property, for the security of a debt, or other engagement, upon a condition that if the debt or engagement shall be discharged according to the contract, the conveyance shall be void, otherwise to become absolute, subject, however, to the right of redemption.

Hence: To pledge, either literally or figuratively; to make subject to a claim or obligation.

A conditional conveyance of property as security for the repayment of a loan

Put up as security or collateral

A loan agreement using real estate as collateral.

They consulted a mortgage broker to find the best loan options.

The couple took out a mortgage to purchase their first home.

Adjustable-rate mortgages might offer lower initial rates but can increase over time.

Mortgage rates fluctuate based on the economy and the central bank's interest rates.

A fixed-rate mortgage ensures your payments remain the same for the duration of the loan.

To qualify for a mortgage, one usually needs a good credit score and a stable income.

Mortgage payments include both the principal amount and interest.

Paying off a mortgage early can save thousands in interest.

Understanding the terms of your mortgage is crucial before signing the agreement.

Refinancing your mortgage can lead to better interest rates and lower monthly payments.