mortgage noun definition in Buying a home topic from the Oxford Advanced Learner's Dictionary


 noun: Buying a home topic
(informal home loan) a legal agreement by which a bank or similar organization lends you money to buy a house, etc., and you pay the money back over a particular number of years; the sum of money that you borrow to apply for/take out/pay off a mortgage mortgage rates (= of interest) a mortgage on the house a mortgage of £60 000 monthly mortgage payments