Mortage vs. Mortgage — Which is Correct Spelling?
Edited by Tayyaba Rehman — By Fiza Rafique — Updated on March 22, 2024
Mortage is an incorrect spelling. The right spelling is mortgage, a legal agreement by which a bank lends money at interest in exchange for taking the title of the debtor's property.
Table of Contents
Which is correct: Mortage or Mortgage
How to spell Mortgage?
Mortage
Incorrect Spelling
Mortgage
Correct Spelling
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Key Differences
Link the word to "mort" which means death; it's a long-term commitment, often till "death" or full payment.
Use mnemonic: "A mort-GAGE till it's paid."
Think of the word as "mort-gage" where "gage" means a pledge.
Remember the "t-g" connection; the "t" is followed directly by a "g" in mortgage.
Visualize a house with the correct spelling, “mortgage,” as its foundation.
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How Do You Spell Mortgage Correctly?
Incorrect: She applied for a mortage to buy her first home.
Correct: She applied for a mortgage to buy her first home.
Incorrect: They paid off their mortage in 20 years.
Correct: They paid off their mortgage in 20 years.
Incorrect: He is looking into refinancing his mortage.
Correct: He is looking into refinancing his mortgage.
Incorrect: The bank approved their mortage application.
Correct: The bank approved their mortgage application.
Incorrect: Finding the right mortage rate can save you thousands.
Correct: Finding the right mortgage rate can save you thousands.
Mortgage Definitions
A loan secured by real property through a legal agreement.
He took out a mortgage to buy his first home.
An instrument signed by a borrower, lender, and sometimes property seller.
She signed the mortgage documents today.
The charging of real property by a debtor to a creditor as security for a debt.
The bank holds a mortgage on the property.
The state of being charged or encumbered with a mortgage.
The property was under mortgage.
A conveyance of property, upon condition, as security for the repayment of a debt.
They are considering a second mortgage for home renovations.
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
A family who cannot afford their mortgage.
The right to payment associated with such a loan
A bank that buys mortgages from originators.
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
Mortgaged their political careers by taking an unpopular stand.
(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.
We're renting a property in the city centre because we can't afford to get a mortgage yet.
(obsolete) State of being pledged.
Lands given in mortgage
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 mortgage a property, an estate, or a shop
We mortgaged our house in order to start a company.
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.
Mortgaging their lives to covetise.
I myself an mortgaged to thy will.
A conditional conveyance of property as security for the repayment of a loan
Put up as security or collateral
Mortgage Meaning in a Sentence
A mortgage is a loan used to purchase a home.
Paying extra on your mortgage can help you save on interest and pay off your loan faster.
The monthly mortgage payment includes both interest and principal.
Mortgage rates can vary significantly between lenders.
Mortgage insurance may be required if you make a down payment of less than 20%.
A pre-approval for a mortgage gives you an idea of how much you can borrow.
Mortgage refinancing can help you get a lower interest rate.
A mortgage calculator can help you estimate your monthly payments.
Before applying for a mortgage, it's important to check your credit score.
Mortgage amortization is the process of gradually reducing the balance through regular payments.
A good credit score can help you secure a better mortgage rate.
Mortgage interest is often tax-deductible.
Mortgage points are fees paid to the lender at closing in exchange for a lower interest rate.
You can apply for a mortgage through a bank, credit union, or mortgage broker.
The term of a mortgage typically ranges from 15 to 30 years.
Mortgage forbearance can offer temporary relief to homeowners facing financial hardship.
A reverse mortgage allows seniors to convert part of their home equity into cash.
A second mortgage allows homeowners to borrow against the equity of their home.
Lenders evaluate your income, debts, and credit history when considering a mortgage application.
The mortgage lender holds a lien on the property until the loan is fully repaid.
Understanding all the terms of your mortgage is crucial before signing the agreement.
Closing costs are fees associated with finalizing a mortgage.
Common Curiosities
What is the root word of mortgage?
The root is from Old French "mort gage" meaning "death pledge."
What is the singular form of mortgage?
Mortgage.
Why is it called mortgage?
It's derived from Old French "mort gage", meaning "death pledge," referring to the pledge ending when the obligation is fulfilled or the property is foreclosed.
What is the pronunciation of mortgage?
Mortgage is pronounced as /ˈmɔːrɡɪdʒ/.
Which vowel is used before mortgage?
The vowel "a" is used before the "g" in mortgage.
What is the plural form of mortgage?
Mortgages.
What is the verb form of mortgage?
To mortgage.
Which preposition is used with mortgage?
"On" as in "mortgage on a property."
Is the word mortgage imperative?
No.
Is mortgage a noun or adjective?
Mortgage is primarily a noun.
Is mortgage a countable noun?
Yes, you can have one mortgage, two mortgages, etc.
What is a stressed syllable in mortgage?
The first syllable, "Mort."
Which determiner is used with mortgage?
Determiners like "this," "that," "my," "your" can be used with mortgage.
Which conjunction is used with mortgage?
Any conjunction can be used, such as "and" or "but," depending on the sentence.
Is the mortgage term a metaphor?
No, but its origin ("death pledge") is metaphorical.
What is the third form of mortgage (as a verb)?
Mortgaged.
Is mortgage a negative or positive word?
Neutral, though context may influence its perception.
Is mortgage a collective noun?
No, it is not.
What is another term for mortgage?
Home loan or lien.
What is the first form of mortgage (as a verb)?
Mortgage.
Which article is used with mortgage?
Both "a" and "the" can be used, depending on context.
Is mortgage a vowel or consonant?
"Mortgage" is a word containing both vowels and consonants.
What part of speech is mortgage?
Noun, though it can also be a verb.
Is mortgage an adverb?
No, mortgage is not an adverb.
Is mortgage an abstract noun?
No, it's a concrete noun.
How many syllables are in mortgage?
Two syllables.
How do we divide mortgage into syllables?
Mort-gage.
What is the opposite of mortgage?
Equity or outright ownership.
What is the second form of mortgage (as a verb)?
Mortgaged.
How is mortgage used in a sentence?
"They secured a mortgage for their new home."
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Written by
Fiza RafiqueFiza Rafique is a skilled content writer at AskDifference.com, where she meticulously refines and enhances written pieces. Drawing from her vast editorial expertise, Fiza ensures clarity, accuracy, and precision in every article. Passionate about language, she continually seeks to elevate the quality of content for readers worldwide.
Edited by
Tayyaba RehmanTayyaba Rehman is a distinguished writer, currently serving as a primary contributor to askdifference.com. As a researcher in semantics and etymology, Tayyaba's passion for the complexity of languages and their distinctions has found a perfect home on the platform. Tayyaba delves into the intricacies of language, distinguishing between commonly confused words and phrases, thereby providing clarity for readers worldwide.
