mortgage payment

USAGE SUMMARY

"mortgage payment" is a correct and commonly used phrase in written English.
It refers to the regular installment payments made towards a mortgage loan for a property. Example: "I have to budget carefully every month to make my mortgage payment on time."

✓ Grammatically correct

News & Media

Wiki

Formal & Business

Human-verified examples from authoritative sources

Exact Expressions

54 human-written examples

4. Your monthly mortgage payment.

The New Yorker

The mortgage payment.

The New York Times - Magazine

Your monthly mortgage payment.

The New Yorker

"The mortgage payment," I said.

The New York Times - Tech

In October, Susan's mortgage payment came due.

The New Yorker

The lack of a mortgage payment helps.

The New York Times

The monthly mortgage payment is $1,150.

The New York Times

For instance, mailing her mortgage payment.

The New York Times

The current monthly mortgage payment is $588.

The New York Times

I had a mortgage payment coming up.

The New York Times - Magazine

Human-verified similar examples from authoritative sources

Similar Expressions

1 human-written examples

And when it does, clean-up can cost as much as a month's mortgage payment.

The New York Times - Magazine

Expert writing Tips

Best practice

When discussing personal finances, be specific about whether you're referring to the principal and interest, or including property taxes and insurance in your "mortgage payment".

Common error

Don't assume that "mortgage payment" encompasses all housing-related expenses. Remember to factor in property taxes, homeowner's insurance, and potential maintenance costs for a complete financial picture.

Linguistic Context

The phrase "mortgage payment" functions as a noun phrase, typically serving as the subject or object of a sentence. It identifies the periodic sum of money paid towards a mortgage loan. Ludwig's examples showcase its use in discussing financial obligations and housing costs.

Expression frequency: Very common

Frequent in

News & Media

47%

Formal & Business

20%

Wiki

12%

Less common in

Science

7%

Encyclopedias

7%

Reference

7%

Ludwig's WRAP-UP

The phrase "mortgage payment" is a very common noun phrase that refers to the periodic payment made towards a mortgage loan. Ludwig AI confirms that it is grammatically correct and widely used, especially in news, media, and formal business contexts. The phrase is generally neutral in register and serves the purpose of conveying financial information related to homeownership. When using the phrase, be mindful of whether you are including property taxes and insurance in your calculation of the "mortgage payment" to avoid confusion. Alternative phrases like "housing loan installment" or "home loan repayment" can be used depending on the context.

More alternative expressions

Phrases that express similar concepts, ordered by semantic similarity:

housing loan installment

Replaces "mortgage" with "housing loan" and "payment" with "installment".

home loan repayment

Substitutes "mortgage" with "home loan" and "payment" with "repayment".

monthly mortgage obligation

Replaces "payment" with "obligation" and adds "monthly" to emphasize the recurring nature.

real estate loan payment

Replaces "mortgage" with "real estate loan".

home financing payment

Replaces "mortgage" with "home financing".

mortgage debt service

Uses the financial term "debt service" instead of "payment".

property loan installment

Substitutes "mortgage" with "property loan" and "payment" with "installment".

mortgage amortization schedule

Refers to the schedule of payments over the life of the mortgage.

scheduled mortgage remittance

Replaces "payment" with "remittance", implying a formal transfer of funds.

monthly housing cost

Broadens the phrase to include other costs associated with housing, not just the mortgage.

FAQs

What does "mortgage payment" include?

A "mortgage payment" typically includes the principal (the loan amount) and interest. It may also include property taxes and homeowner's insurance, often referred to as PITI. Check your mortgage statement to understand what your specific payment covers.

How can I lower my "mortgage payment"?

Several strategies can potentially lower your "mortgage payment", including refinancing to a lower interest rate, extending the loan term, or paying down the principal. You could also explore options like "loan modification".

What happens if I miss a "mortgage payment"?

Missing a "mortgage payment" can lead to late fees and negatively impact your credit score. Consistent missed payments can eventually result in foreclosure. Contact your lender immediately if you anticipate difficulty making a payment.

What are some alternatives to saying "mortgage payment"?

You can use alternatives like "housing loan installment", "home loan repayment", or "monthly mortgage obligation", depending on the specific context.