Rocket mortgage payment Meaning and Definition

Pronunciation

/ˈrɑːkɪt mɔrˈtɪdʒ mɛnˈtoʊmɛnt/ 🔊

Part of Speech

Noun

Definition

A regular payment made by a borrower to a lender, typically in the form of a mortgage, to pay off the principal amount borrowed, interest, and other costs associated with the loan.

Examples

• John makes his rocket mortgage payment every month to avoid late fees.
• The couple worked hard to make sure they could afford their rocket mortgage payment.

Synonyms

• Mortgage payment
• Loan payment

Antonyms

• Debt
• Financial obligation

Etymology

The term “rocket mortgage payment” is a metaphorical reference to the fast-paced and accelerated nature of modern mortgage payments.

Usage Notes

Used in context to refer to the regular payment made by a borrower to a lender, expressing financial responsibility and maintenance of credit.

Cultural References

Rocket mortgage payment has been referenced in various financial and lifestyle articles, emphasizing the importance of timely payments and financial planning.

Idiomatic Expressions or Phrases

“Make ends meet” often involves making rocket mortgage payments on time.

Related Words or Phrases

Loan, mortgage, interest rate, credit score

Collocations

rocket mortgage payment schedule, rocket mortgage payment plan, rocket mortgage payment calculator

Frequency of Use

Rocket mortgage payment is commonly used in modern financial discourse, particularly among young adults and professionals.

Common Misspellings

rossket mortgage payment, rockit mortgage payment, roket mortgage payment