How to pronounce Mortgage?

The correct way to pronounce Mortgage is [MOR-gij]. Emphasis is on the 1 syllable. To learn how to pronounce Mortgage, listen and repeat:

What's the definition of Mortgage?

Mortgage – a mortgage is a loan specifically used to purchase real estate. The property serves as collateral for the loan, meaning if the borrower cannot repay, the lender can take the property. Mortgages usually involve regular payments over a set term, often 15 to 30 years. The borrower pays interest in addition to the principal amount borrowed. Mortgages are a common way for individuals to buy homes without paying the entire purchase price upfront.

Examples of usage of Mortgage

  1. Many people take out a mortgage to buy their first home.
  2. The couple was excited to finally get approved for a mortgage.
  3. A fixed-rate mortgage means your interest rate stays the same over the life of the loan.
  4. After several years of paying their mortgage, they decided to refinance to a lower rate.
  5. It's essential to understand the terms of your mortgage before signing the agreement.