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 · mortgage (plural mortgages) A special form of secured loan where the purpose of the loan must be specified to the lender, to purchase assets that must be fixed (not movable) property, such as a house or piece of farm land.

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Mortgage Payment Breakdown and Explanation for First Time Home Buyers mortgage (mrgj) n. 1. A loan for the purchase of real property, secured by a lien on the property. 2. The document specifying the terms and conditions of the repayment of such a loan. 3. The repayment obligation associated with such a loan: a family who cannot afford their mortgage. 4. The right.

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