Apply for mortgage Meaning and Definition
Apply for mortgage
Pronunciation
(Not applicable)
Part of Speech
Noun Phrasal Verb
Definition
A formal request to a lender for a loan to purchase or refinance a property, typically involving a credit check, appraisal, and terms agreement.
Etymology
The term “apply for mortgage” originates from the Old French “morta” (death) and “gage” (pledge), in reference to the property serving as collateral.
Usage Notes
When applying for a mortgage, individuals typically provide financial information, credit history, and other relevant documentation to secure loan approval.
Cultural References
In popular media, applying for a mortgage is often depicted as a stressful and complex process, as seen in films and TV shows such as “The Wolf of Wall Street” and “The Office.”
Idiomatic Expressions or Phrases
- To put a property on the block
Related Words or Phrases
- Loan
- Property
- Finance
Collocations
- Mortgage application
- Mortgage lender
- Mortgage broker
Frequency of Use
Applying for a mortgage is a common and widely used term in the real estate and financial industries, especially in areas where property ownership is common.
Common Misspellings
Mortage, Mortgag