1
general::
noun
contract pledge to pay:
We have a large mortgage on our home., noun
loan:
The mortgage on our house is $150,000.
Simple Definitions
2
general::
noun ADJ. big, huge | small | cheap Banks often offer their employees cheap mortgages. | endowment, fixed-rate, repayment VERB + MORTGAGE have We've got a big mortgage. | get, raise (formal), take out They were having trouble getting a mortgage. We'll have to take out a second mortgage to pay for this holiday! | pay, pay off, redeem, repay He didn't earn enough to support his family and pay the mortgage. There are penalties if you want to redeem your mortgage early. | be in arrears with, fall behind with, get behind with They were in arrears with their mortgage, so their home was repossessed. MORTGAGE + NOUN (interest) payment, repayment They were struggling to keep up with their mortgage repayments. | rate a rise in mortgage rates | lender PREP. ~ of a mortgage of £80,000 | ~ on I couldn't get a mortgage on the property.
Oxford Collocations Dictionary
3
general::
mortgage
verbs
have a mortgage
• They have a mortgage on a small house in North London.
take out a mortgage
(= borrow money to buy a house )
• We took out a 25-year mortgage.
get a mortgage
• We couldn't get a mortgage.
pay/repay a mortgage
• If I lose my job, we won't be able to pay the mortgage.
pay off a mortgage
(= finish paying all the money you owe )
• They paid off their mortgage five years early.
fall/get behind with the mortgage
(= be unable to pay enough money each month )
• He fell behind with the mortgage when he lost his job.
adjectives
big/high
• They both need to work full-time because their mortage is so big.
cheap
(= with a low interest rate )
• Homebuyers are eager to take advantage of the cheap mortgages on offer.
mortgage + NOUN
a mortgage payment
• If interest rates go down, your mortgage payments will fall.
the mortgage rate
(= the rate of interest you will pay on a mortgage )
• You need to shop around for a good mortgage rate.
a mortgage lender
(= a bank that provides mortgages )
• Nearly all mortgage lenders plan to raise their interest rates.
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