The Meaning of Mortgage: What It Is and How To Use It

What is a mortgage, and how does a loan for a mortgage work? This article will cover the meaning of mortgage and how you can get one.

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The word mortgage can sound like a big, scary word for a lot of people. The idea of being committed to a loan for 30 years of a person’s life can seem very daunting. However, a mortgage is less scary than it might seem at first. 

This article will cover the meaning of the word mortgage, translations, the word’s origins, and its antonyms and synonyms.

What Does the Word Mortgage Mean?

According to Investopedia, a mortgage is a type of loan used to purchase a home. You can also use it to purchase land or another type of real estate. A person borrows money from a lender and agrees to pay the money back over time using a mortgage.

First, a mortgage usually starts with a down payment, which is a sum of money that is deposited into the initial loan payment. The monthly mortgage payments include principal balance and interest, which depend on the current mortgage rates or interest rates. 

The land, house, or other pieces of property are used as collateral. If the borrower defaults on the loan, the lender can revoke the possession of the property and deed of trust.

To get a mortgage, buyers must prove that they can afford a property to a lender, calculated based on their debt to income ratio, a lump sum for a down payment, income, and more. In your contract for your mortgage loan, you will agree to repay the assets as the borrower from the purchaser. 

Your monthly payments are more than just your mortgage. They also include other expenses, including homeowner’s insurance, insurance premiums, property taxes, and potentially private mortgage insurance, or PMI if you have an FHA loan or a down payment under 20%.

Common mortgages are fixed-rate loans and an adjustable-rate mortgage, which calculate the annual percentage rate (APR) differently. There are also reverse mortgages, Fannie Mae and Freddie Mac. The loan term is usually 30 years.

Once you have gone through escrow and your purchase paperwork is complete, you can gain possession of the property and move into your new home!

What Is the Origin of Mortgage?

Dictionary states that the word mortgage has been used since Middle English and comes from the Old French mortgage. Mort is a French word meaning dead, from the Latin mortuus, and gage is a word that means pledge. 

Therefore, as a direct translation, the word mortgage is French for death pledge.

What Are Translations of Mortgage?

The concept of a mortgage exists not only in English-speaking countries but around the world. If you are looking to buy a property in another country or simply discussing real estate or property purchase with someone who does not speak English, learning translations of the word mortgage can be useful. 

Reference this list of translations of mortgage from Nice Translator to learn more: 

  • Russian: ипотека
  • Amharic: የቤት ኪራይ
  • Japanese: モーゲージ
  • Malayalam: ജാമ്യം
  • Malay: gadai janji
  • Marathi: मॉर्टगेज
  • German: Hypothek
  • Korean: 저당
  • Tamil: அடமான
  • Arabic: الرهن العقاري
  • Croatian: hipoteka
  • Gujarati: ગીરો
  • Indonesian: hak Tanggungan
  • Welsh: morgais
  • Norwegian: boliglån
  • Dutch: hypotheek
  • Bulgarian: ипотека
  • Slovenian: hipoteka
  • Italian: ipoteca
  • Basque: mailegu
  • Bengali: বন্ধকী
  • Latvian: hipotēka
  • Vietnamese: thế chấp
  • Portuguese (Portugal): hipoteca
  • Chinese (Taiwan): 抵押
  • Lithuanian: hipotekos
  • Polish: hipoteka
  • Portuguese (Brazil): hipoteca
  • Hebrew: משכנתא
  • Icelandic: veð
  • Czech: hypotéka
  • Finnish: kiinnitys
  • Estonian: hüpoteek
  • Hindi: बंधक
  • Thai: จำนอง
  • Slovak: hypotéka
  • Swedish: inteckning
  • Chinese (PRC): 抵押
  • Ukrainian: іпотека
  • Spanish: hipoteca
  • Kannada: ಅಡಮಾನ
  • Hungarian: jelzálog
  • Danish: pant
  • Telugu: తాకట్టు
  • Serbian: хипотека
  • Romanian: credit ipotecar
  • Catalan: hipoteca
  • French: hypothèque
  • Urdu: رہنما
  • Turkish: ipotek
  • Greek: στεγαστικών δανείων

What Are Synonyms of the Word Mortgage?

While the concept of a mortgage is fairly specific, Power Thesaurus provides a list of synonyms for the word mortgage that can be used in similar circumstances. 

If you are looking for another word for a type of loan or for other financial terminology, looking at this list from Power Thesaurus can get you started:

  • advance
  • answer for
  • arrears
  • assure
  • bank loan
  • below the line
  • bill of sale
  • bond
  • bridging loan
  • capital outlay
  • car loan
  • collateral
  • contract
  • credit
  • dead horse
  • debenture
  • debt
  • deed
  • deficit
  • deposit
  • encumbrance
  • engage
  • ensure
  • guarantee
  • hock
  • home equity loan
  • home loan
  • hypothec
  • hypothecate
  • hypothecation
  • in the hole
  • indebtment
  • installment buying
  • installment plan
  • lease
  • lend
  • lending
  • liability
  • lien
  • liens
  • loan
  • loaning
  • loans
  • mortgage loan
  • mortgaged
  • mortgages
  • on account
  • on the arm
  • on the cuff
  • overdraft
  • pawn
  • plastics
  • pledge
  • pledged
  • pledges
  • plight
  • pop
  • red ink
  • remortgage
  • second mortgage
  • secure
  • secured loan
  • security
  • small business loan
  • spout
  • stake
  • surplus cash
  • title
  • warrant

What Are Antonyms of the Word Mortgage?

Power Thesaurus also lists many words related to renting and leasing. Renting and leasing are the opposite of a mortgage because you do not own the property, equity, or collateral. Look at this list of antonyms for the word mortgage to see words related to leasing and renting. 

  • agreement
  • book
  • charter
  • chartering
  • contract
  • deal
  • engage
  • farm out
  • hire
  • hire out
  • hired
  • hiring
  • lease
  • leased
  • leasehold
  • leasing
  • let
  • let out
  • letting
  • loan
  • occupancy
  • rent
  • rent out
  • rental
  • rental agreement
  • rented
  • renting
  • reserve
  • sublease
  • sublet
  • take
  • tenancy
  • tenure


A mortgage is a specific type of loan for a piece of land or property. Most often, people get mortgages when they buy a home. To get a mortgage, you must be approved by a lender to get a mortgage, find the house, and go through the escrow process. 


  1. Mortgage synonyms – 520 Words and Phrases for Mortgage | Power Thesaurus 
  2. Rent Synonyms | Power Thesaurus 
  3. Mortgage Definition | Investopedia 
  4. Mortgage Definition & Meaning | 
  5. Mortgage | Nice Translator