Mortgage

/ˈmɔːrɡɪdʒ/

Spanish Translation

hipoteca

Part of Speech

  • noun
  • verb

Word Forms

  • mortgages
  • mortgaged
  • mortgaging

Etymology

From Old French 'mort gaige' meaning 'dead pledge'. The pledge becomes dead either when the debt is paid off, or if the property is forfeited.

Del francés antiguo 'mort gaige' que significa 'prenda muerta'. La prenda se considera muerta cuando la deuda se paga o si la propiedad es confiscada.

Meanings

noun

A legal agreement by which a bank or other creditor lends money at interest in exchange for taking title of the debtor's property, with the condition that the conveyance of title becomes void upon the payment of the debt.

Un acuerdo legal por el cual un banco u otro acreedor presta dinero a interés a cambio de tomar el título de propiedad del deudor, con la condición de que la transmisión del título se anule al pagar la deuda.

They had to take out a mortgage to buy the house.

Tuvieron que contratar una hipoteca para comprar la casa.

verb

To convey (a property) to a creditor as security for money lent.

Conceder (una propiedad) a un acreedor como garantía del dinero prestado.

They mortgaged their house to pay off their debts.

Hipotecaron su casa para pagar sus deudas.

Example Sentences

The bank offered a low interest rate on the mortgage.

El banco ofreció una baja tasa de interés en la hipoteca.

We are struggling to keep up with our mortgage payments.

Estamos luchando para mantenernos al día con los pagos de nuestra hipoteca.

He took out a second mortgage on his house.

Sacó una segunda hipoteca sobre su casa.

Synonyms

Antonyms

Phrases

  • adjustable-rate mortgage
    hipoteca de tasa ajustable
  • fixed-rate mortgage
    hipoteca de tasa fija
  • reverse mortgage
    hipoteca inversa

Idioms

  • To be in hock (similar to mortgaged or indebted)
    Estar en deuda
  • To bet the farm (Risk everything, potentially losing one's home and mortgage)
    Apostar todo
  • A weight off one's shoulders (e.g., paying off the mortgage)
    Quitarse un peso de encima
  • To get something off one's chest (e.g., talking about mortgage stress)
    Desahogarse
  • Home sweet home (A place to have a mortgage at and raise a family)
    Hogar, dulce hogar

Proverbs

  • A man's home is his castle (implies the importance of owning a home, often with a mortgage).
    La casa de un hombre es su castillo
  • Don't count your chickens before they hatch (related to potential financial overreach with a mortgage).
    No cantes victoria antes de tiempo
  • Look before you leap (especially relevant when taking on a large financial commitment like a mortgage).
    Más vale prevenir que lamentar
  • A penny saved is a penny earned (important for managing mortgage payments).
    Un centavo ahorrado es un centavo ganado
  • Easy come, easy go (Can relate to overspending that makes mortgage payments difficult).
    Lo que fácil viene, fácil se va

Usage Notes

In English, 'mortgage' is commonly used in the context of buying real estate, particularly houses. It refers to the loan secured by the property.

En español, 'hipoteca' se usa comúnmente en el contexto de la compra de bienes raíces, particularmente casas. Se refiere al préstamo garantizado por la propiedad.

Notes for Learners

  • The term 'mortgage' is often associated with long-term debt and financial responsibility.

    El término 'hipoteca' a menudo se asocia con la deuda a largo plazo y la responsabilidad financiera.

  • Understanding the concept of a mortgage is crucial for personal finance and real estate.

    Comprender el concepto de una hipoteca es crucial para las finanzas personales y los bienes raíces.

  • Pay close attention to the different types of mortgages available.

    Presta mucha atención a los diferentes tipos de hipotecas disponibles.

Collocations

  • take out a mortgage
    contratar una hipoteca
  • pay off a mortgage
    pagar una hipoteca
  • mortgage rate
    tasa de interés hipotecaria

Common Mistakes

  • Confusing 'mortgage' with other types of loans.

    Confundir 'hipoteca' con otros tipos de préstamos.

  • Misunderstanding the terms and conditions of a mortgage agreement.

    Malinterpretar los términos y condiciones de un acuerdo hipotecario.

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Learning Tips

  • Use flashcards to learn the key terms associated with mortgages.

    Usa tarjetas de memoria para aprender los términos clave asociados con las hipotecas.

  • Practice using the word 'mortgage' in different contexts to improve your understanding.

    Practica el uso de la palabra 'hipoteca' en diferentes contextos para mejorar tu comprensión.

  • Read articles and news reports about the housing market to see how the word 'mortgage' is used in real-world situations.

    Lee artículos e informes de noticias sobre el mercado inmobiliario para ver cómo se usa la palabra 'hipoteca' en situaciones del mundo real.