300 000 mortgage payment Meaning and Definition
300 000 mortgage payment
Pronunciation
/ˈtrīdəs/
Part of Speech
Noun
Definition
A fixed amount of money paid monthly by a borrower to a lender to service a mortgage loan on a property worth $300,000.
Etymology
The word ‘300 000 mortgage payment’ originates from the concept of a mortgage, a loan agreement between a borrower and a lender that involves the use of a property as collateral. The ‘300 000’ refers to the value of the property.
Usage Notes
This term is typically used in financial contexts, such as real estate transactions or personal finance discussions.
Cultural References
This term may appear in financial news articles, real estate websites, or personal finance blogs.
Idiomatic Expressions or Phrases
This term is often used in conjunction with other financial terms, such as ‘down payment’ or ‘monthly payments’.
Related Words or Phrases
- Mortgage
- Loan
- Interest rate
Collocations
- ‘300 000 mortgage payment per month’
- ‘$300,000 property, $2,000 monthly payment’
Frequency of Use
This term is commonly used in financial contexts, particularly in discussions about real estate and mortgages.
Common Misspellings
thousand mortgage payment, three hundred thousand mortgage payment