Mortgage vs. Charge — What's the Difference?

Property pledged as collateral in such an agreement.

Legal claim on an asset as security for a loan.

A legal agreement where real estate secures a loan.

The amount an institution claims for a service.

Financial institution lending money under this agreement.

To attack or advance forcefully.

The legal charge held by the lender over the property.

To accuse someone formally of a crime.

The loan itself used to purchase property.

A duty or responsibility assigned to someone.

A legal agreement by which a bank, building society, etc. lends money at interest in exchange for taking title of the debtor's property, with the condition that the conveyance of title becomes void upon the payment of the debt

Demand (an amount) as a price for a service rendered or goods supplied

Convey (a property) to a creditor as security on a loan

Formally accuse (someone) of something, especially an offence under law

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

Entrust (someone) with a task as a duty or responsibility

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

Store electrical energy in (a battery or battery-operated device)

The repayment obligation associated with such a loan

Rush forward in attack

The right to payment associated with such a loan

Place a heraldic bearing on

The lien on the property associated with such a loan.

A price asked for goods or services

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

An accusation, typically one formally made against a prisoner brought to trial

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

Responsibility for the care or control of someone or something

(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.

The property of matter that is responsible for electrical phenomena, existing in a positive or negative form.

(obsolete) State of being pledged.

A quantity of explosive to be detonated in order to fire a gun or similar weapon

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.

A headlong rush forward, typically in attack

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

A device or bearing placed on a shield or crest.

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.

To impose a duty, responsibility, or obligation on

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

To instruct or urge authoritatively; command

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.

(Law) To instruct (a jury) about the law, its application, and the weighing of evidence.

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

To set or ask (a given amount) as a price

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

To hold financially liable; demand payment from

Put up as security or collateral

To purchase on credit

To load to capacity; fill

To load (a gun or other firearm) with a quantity of explosive

To pervade or fill, as with a feeling or quality

To make a claim of wrongdoing against; accuse or blame

To put the blame for; attribute or impute

To rush against in an attack

(Basketball) To bump or run into (a defender) illegally while in possession of the ball or having just made a pass or shot.

(Sports) To bump (an opponent) so as to knock off balance or gain control of the ball, as in soccer.

(Sports) To body-check (an opponent) illegally, from behind or after taking more than two strides, especially in ice hockey.

To cause formation of a net electric charge on or in (a conductor, for example).

To energize (a storage battery) by passing current through it in the direction opposite to discharge.

To excite; rouse

To direct or put (a weapon) into position for use; level or direct.

(Heraldry) To place a charge on (an escutcheon).

To rush forward in an attack

To rush forward; run

To demand or ask payment

To make a purchase or purchases on credit.

(Accounting) To consider or record as a loss. Often used with off.

To become energized

Expense; cost

The price asked for something

A debt or an entry in an account recording a debt

A financial burden, such as a tax or lien.

A weight or burden; a load

The quantity that a container or apparatus can hold.

A quantity of explosive to be set off at one time.

An assigned duty or task; a responsibility

Care; custody

Supervision; management

One that is entrusted to another's care or management

An order, command, or injunction.

Instruction given by a judge to a jury about the law, its application, and the weighing of evidence.

A claim of wrongdoing; an accusation

A rushing, forceful attack

The command to attack

The intrinsic property of matter responsible for all electric phenomena, in particular for the electromagnetic force, occurring in two forms arbitrarily designated negative and positive.

The net measure of this property possessed by a body or contained in a bounded region of space, measured in coulombs, ampere-hours, or units of elementary charge. Also called electric charge.

See magnetic charge.

See color charge.

(Informal) A feeling of pleasant excitement; a thrill

(Heraldry) A figure or device represented on the field of an escutcheon.

The amount of money levied for a service.

(military) A ground attack against a prepared enemy.

A forceful forward movement.

An accusation.

An official description (by the police or a court) of a crime that somebody may be guilty of.

An accusation by a person or organization.

An electric charge.

The scope of someone's responsibility.

Someone or something entrusted to one's care, such as a child to a babysitter or a student to a teacher.

A load or burden; cargo.

An instruction.

(basketball) An offensive foul in which the player with the ball moves into a stationary defender.

(firearms) A measured amount of powder and/or shot in a cartridge.

(by extension) A measured amount of explosive.

(heraldry) An image displayed on an escutcheon.

(weaponry) A position (of a weapon) fitted for attack.

(farriery) A sort of plaster or ointment.

(obsolete) Weight; import; value.

A measure of thirty-six pigs of lead, each pig weighing about seventy pounds; a charre.

(ecclesiastical) An address given at a church service concluding a visitation.

To assign a duty or responsibility to.

(transitive) To assign (a debit) to an account.

(transitive) To pay on account, as by using a credit card.

(ambitransitive) To require payment (of) (a price or fee, for goods, services, etc.).

(dated) To sell at a given price.

(law) To formally accuse (a person) of a crime.

To impute or ascribe.

To call to account; to challenge.

(transitive) To place a burden, load or responsibility on or in.

To ornament with or cause to bear.

(heraldry) To assume as a bearing.

(heraldry) To add to or represent on.

(transitive) To load equipment with material required for its use, as a firearm with powder, a fire hose with water, a chemical reactor with raw materials.

(transitive) To cause to take on an electric charge.

(transitive) To replenish energy to (a battery, or a device containing a battery) by use of an electrical device plugged into a power outlet.

To replenish energy.

(intransitive) To move forward quickly and forcefully, particularly in combat and/or on horseback.

To attack by moving forward quickly in a group.

(basketball) To commit a charging foul.

To take a few steps down the pitch towards the bowler as they deliver the ball, either to disrupt the length of the delivery, or to get into a better position to hit the ball.

To lie on the belly and be still. A command given by a hunter to a dog

To lay on or impose, as a load, tax, or burden; to load; to fill.

To lay on or impose, as a task, duty, or trust; to command, instruct, or exhort with authority; to enjoin; to urge earnestly; as, to charge a jury; to charge the clergy of a diocese; to charge an agent.

To lay on, impose, or make subject to or liable for.

To fix or demand as a price; as, he charges two dollars a barrel for apples.

To place something to the account of as a debt; to debit, as, to charge one with goods. Also, to enter upon the debit side of an account; as, to charge a sum to one.

To impute or ascribe; to lay to one's charge.

To accuse; to make a charge or assertion against (a person or thing); to lay the responsibility (for something said or done) at the door of.

To place within or upon any firearm, piece of apparatus or machinery, the quantity it is intended and fitted to hold or bear; to load; to fill; as, to charge a gun; to charge an electrical machine, etc.

To ornament with or cause to bear; as, to charge an architectural member with a molding.

To assume as a bearing; as, he charges three roses or; to add to or represent on; as, he charges his shield with three roses or.

To call to account; to challenge.

To bear down upon; to rush upon; to attack.

To make an onset or rush; as, to charge with fixed bayonets.

To demand a price; as, to charge high for goods.

To debit on an account; as, to charge for purchases.

To squat on its belly and be still; - a command given by a sportsman to a dog.

A load or burder laid upon a person or thing.

A person or thing commited or intrusted to the care, custody, or management of another; a trust.

Custody or care of any person, thing, or place; office; responsibility; oversight; obigation; duty.

Heed; care; anxiety; trouble.

Harm.

An order; a mandate or command; an injunction.

An address (esp. an earnest or impressive address) containing instruction or exhortation; as, the charge of a judge to a jury; the charge of a bishop to his clergy.

An accusation of a wrong of offense; allegation; indictment; specification of something alleged.

Whatever constitutes a burden on property, as rents, taxes, lines, etc.; costs; expense incurred; - usually in the plural.

The price demanded for a thing or service.

An entry or a account of that which is due from one party to another; that which is debited in a business transaction; as, a charge in an account book.

That quantity, as of ammunition, electricity, ore, fuel, etc., which any apparatus, as a gun, battery, furnace, machine, etc., is intended to receive and fitted to hold, or which is actually in it at one time

The act of rushing upon, or towards, an enemy; a sudden onset or attack, as of troops, esp. cavalry; hence, the signal for attack; as, to sound the charge.

A position (of a weapon) fitted for attack; as, to bring a weapon to the charge.

A sort of plaster or ointment.

Thirty-six pigs of lead, each pig weighing about seventy pounds; - called also charre.

Weight; import; value.

(criminal law) a pleading describing some wrong or offense;

The price charged for some article or service;

An assertion that someone is guilty of a fault or offence;

Request for payment of a debt;

A impetuous rush toward someone or something;

The quantity of unbalanced electricity in a body (either positive or negative) and construed as an excess or deficiency of electrons;

Financial liabilities (such as a tax);

A person committed to your care;

Attention and management implying responsibility for safety;

A special assignment that is given to a person or group;

A formal statement of a command or injunction to do something;

A quantity of explosive to be set off at one time;

The swift release of a store of affective force;

(psychoanalysis) the libidinal energy invested in some idea or person or object;

Heraldry consisting of a design or image depicted on a shield

To make a rush at or sudden attack upon, as in battle;

Blame for, make a claim of wrongdoing or misbehavior against;

Demand payment;

Move quickly and violently;

Assign a duty, responsibility or obligation to;

File a formal charge against;

Make an accusatory claim;

Fill or load to capacity;

Enter a certain amount as a charge;

Cause to be admitted; of persons to an institution;

Give over to another for care or safekeeping;

Pay with a credit card; pay with plastic money; postpone payment by recording a purchase as a debt;

Lie down on command, of hunting dogs

Cause to be agitated, excited, or roused;

Place a heraldic bearing on;

Provide with munition;

Direct into a position for use;

Impose a task upon, assign a responsibility to;

Instruct (a jury) about the law, its application, and the weighing of evidence

Instruct or command with authority;

Attribute responsibility to;

Set or ask for a certain price;

Cause formation of a net electrical charge in or on;

Energize a battery by passing a current through it in the direction opposite to discharge;

Saturate;

A mortgage allows you to borrow money using property as collateral, and the lender can claim ownership if you don't repay according to the terms.

Yes, technically, a mortgage is a type of charge because it represents a legal interest in property as security.

No, a mortgage is specific to real estate loans, while a charge refers to any legal claim on assets as security.

The priority is generally based on the registration date of the charge or through specific agreements, ensuring that earlier registered charges are settled first.

Yes, borrowers can negotiate various aspects, such as loan tenure, monthly payment amounts, and interest rates, often choosing options best suited to their financial situation.

Yes, once the debt is fully paid, the creditor must release the charge, often by filing the appropriate documentation with relevant authorities.

Defaulting can lead to foreclosure, where the lender takes possession of the property to recover the loan amount.

A fixed charge applies to specific assets, whereas a floating charge covers assets that can change or fluctuate.

A charge can be placed on various assets like real estate, inventory, machinery, patents, and receivables, depending on the nature of the loan.

Yes, common types include fixed-rate, adjustable-rate, interest-only, and reverse mortgages, each offering different payment structures and terms.

Yes, a borrower can have multiple charges as long as each lender agrees to the arrangement, and the order of priority is clearly established.

While it indicates that the company has outstanding debt, it also demonstrates transparency and could help secure additional financing if managed responsibly.

A mortgage lien secures the lender’s interest in the property, ensuring that the lender can foreclose if the borrower defaults.

Floating charges allow businesses to secure loans while maintaining operational flexibility since they can continue using their assets until default.

Not always; lenders often attempt to work with borrowers to restructure or catch up on payments before proceeding with foreclosure.