mortgage

USAGE SUMMARY

The word "mortgage" is correct and can be used in written English.
You can use it when referring to a loan that is secured by a house or other real estate. For example: "My parents are planning to take out a mortgage to buy their first home."

✓ Grammatically correct

News & Media

Formal & Business

Human-verified examples from authoritative sources

Exact Expressions

60 human-written examples

The same is true of refinancing at a different bank from the one that currently holds your mortgage, or trying to persuade a new bank to give you a business loan.

The Economist

"This is because the state would not pay for people to buy their food or pay their mortgage or their rent if they were living at home".

The Guardian

In the summer of 2007, she was one of the first at Federal Open Market Committee [FOMC] meetings to caution that the subprime mortgage crisis would lead to a recession, while others appeared more concerned about inflation.

The Guardian - Opinion

Nick Hopkinson of Property Portfolio Rescue, which buys houses from distressed buy-to-let borrowers, describes the Nationwide's reported increase as a "statistical blip" which would "not fool anybody who is struggling to sell their home or obtain realistic mortgage finance in the real world".

The Guardian - Business

They often end up letting out a spare room to a friend and the ultra-low interest rates of the last five years can mean the rent their mates is paying them is more than their mortgage.

The Guardian - Opinion

Or the cost could have been standing back and watching your home value go "underwater," its value sinking below the mortgage you were paying.

The Guardian - Opinion

"If you have a home – if you're already there, even with a mortgage – you wonder how your children are going to get a home," he said.

The Guardian

Mark Harris, chief executive of rival mortgage broker SPF Private Clients, said: "With the Co-op launching a two-year fix at 1.09%, unbelievable as it may seem, it could only be a matter of time before we have a sub-1% two-year fix".

The Guardian - Money

According to the Council of Mortgage Lenders, gross mortgage lending in the first three months of this year totalled an estimated £45bn, which was 12% down on the last three months of 2014, and 3% down on the first quarter of 2014.

The Guardian - Money

According to figures from the Bank of England, the number of mortgage approvals was under 50,000 in October 2010, compared with a peak of 130,000 in November 2006.

The Guardian - Business

However, if it is a second/holiday home that is being used exclusively or mainly by you and your family, or you rent it out to UK holidaymakers who pay you in sterling, then the mortgage borrowing should be in sterling.

The Guardian - Money

Expert writing Tips

Best practice

When discussing financial matters, use "mortgage" precisely to refer to a loan secured by real estate. Avoid vague terms like "loan" when specificity is needed.

Common error

Don't use "mortgage" interchangeably with any loan. A "mortgage" is specifically tied to real estate, unlike personal or business loans.

Linguistic Context

The word "mortgage" primarily functions as a noun, referring to a loan secured by real property. It can also function as a verb, meaning to pledge property as security for a debt, as Ludwig examples show.

Expression frequency: Very common

Frequent in

News & Media

33%

Formal & Business

33%

Science

34%

Less common in

Science

0%

News & Media

0%

Formal & Business

0%

Ludwig's WRAP-UP

In summary, "mortgage" is a commonly used term referring to a loan secured by real estate, functioning primarily as a noun but also as a verb. As Ludwig AI confirms, its usage is grammatically correct. It is most frequently found in news, business, and finance contexts. When writing about real estate or finance, ensure that you are using "mortgage" to specifically refer to this type of secured loan, differentiating it from other forms of borrowing. Its correct and consistent usage, as demonstrated by numerous examples, makes it a reliable term in both formal and informal communication.

More alternative expressions

Phrases that express similar concepts, ordered by semantic similarity:

Home loan

Focuses specifically on the loan aspect for purchasing a home.

Property loan

Highlights that the loan is secured against property.

Deed of trust

Emphasizes the legal agreement securing the loan.

Encumbered property

Refers to the property that is subject to the debt.

Real estate financing

Describes the act of obtaining funds for property purchase.

Housing credit

Highlights the credit used to fund housing.

Financial encumbrance

Broader term describing the financial burden of the loan.

Lien on property

Indicates a legal claim on the property as security.

Secured real estate loan

Highlights the loan's security through real estate.

Borrowing against property

Describes the action of taking out a loan using property as collateral.

FAQs

How to use "mortgage" in a sentence?

You can use "mortgage" in a sentence like: "They took out a "mortgage" to buy their first house", or "Paying off the "mortgage" is their top financial priority".

What can I say instead of "mortgage"?

Depending on the context, you could use "home loan" or "property loan" as alternatives.

Which is correct, "mortgage" or "mortage"?

"Mortgage" is the correct spelling. "Mortage" is a misspelling.

What's the difference between a "mortgage" and a home equity loan?

A "mortgage" is used to purchase a home, while a home equity loan is a second loan secured by the existing equity in your home.