mortgage
/ˈmɔː.ɡɪdʒ/noun
A loan for buying a house or land, where the property itself serves as security until the debt is repaid.
Example sentences
- “They took out a thirty-year mortgage to buy their first home.”
- “They finally paid off their mortgage after twenty-five years.”
The t is silent. From Old French for 'dead pledge', because the arrangement dies once the debt is settled.