real estate
mortgage
A loan used to purchase real estate, secured by the property itself as collateral.
Example
"They got a 30-year mortgage at 4% interest to buy their first home."
💡 Memory Tip
MORT-gage — mort means death. The pledge (debt) dies when you finally pay it off.
Etymology
From Old French 'mort gage' meaning 'dead pledge' — the pledge (loan) dies when paid off or when the property is taken.
Common Misspellings
morgagemorgidgemortagemortgige