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Mortgage definition is – a conveyance of or lien against property (as for securing a loan) that becomes void upon payment or performance according to stipulated terms. How to use mortgage in a sentence.

Affordability Calculator. Estimate the home price you can afford by inputting your monthly income, expenses and specified mortgage rate. Adjust the loan terms from 15-, 20- and 30-year mortgages and see your estimated home price, loan amount, down payment and monthly payments change.

Do I Need To Re-Fi My 30 Year Mortgage? Mortgage rates valid as of 18 Oct 2019 09:39 am EDT and assume borrower has excellent credit (including a credit score of 740 or higher). Estimated monthly payments shown include principal, interest and (if applicable) any required mortgage insurance. ARM interest rates and payments are subject to increase after the initial fixed-rate period (5 years for a 5/1 ARM, 7 years for a 7/1 ARM and 10.

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.

See also: cloud, encumber, encumbrance, hypothecation, incumbrance, pawn mortgage a conveyance of land or an assignment of chattels as a security for the payment of a debt or the discharge of some other obligation for which it is given.

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