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InvestHub.com's
Finance Dictionary and Glossary of Investment Terms

Mortgage  

Definition 1.

A loan, secured by the collateral of some specified real estate property, in which the borrower is obligated to make a predetermined set of payments to repay the loan.
 

Definition 2.

A loan secured by the collateral of some specified real estate property that obliges the borrower to make a predetermined series of payments.
 

Definition 3.

A loan to finance the purchase of real estate, usually with specified payment periods and interest rates. The borrower (mortgagor) gives the lender (mortgagee) a lien on the property as collateral for the loan.
 
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