Mortgage Loan (Noun)
Meaning
A loan on real estate that is usually secured by a mortgage.
Classification
Nouns denoting possession and transfer of possession.
Examples
- A mortgage loan was used to finance the purchase of the new home.
- She applied for a mortgage loan to buy her first apartment.
- The couple obtained a mortgage loan with a fixed interest rate for 15 years.
- To qualify for a mortgage loan, the lender required a down payment of 20%.
- The family used a mortgage loan to refinance their existing home and consolidate debt.