Question

Select the word which means the same as the group of words given. A legal agreement by which a person borrows money from a bank usually to buy a house

Answer 1

Explanation:

A mortgage is a loan in which property or real estate is used as collateral. The borrower enters into an agreement with the lender (usually a bank) wherein the borrower receives cash upfront then makes payments over a set time span until he pays back the lender in full.

Answer 2

Answer -

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• A legal agreement by which a person borrows money from a bank usually to buy a house
• Noun He will have to take out a mortgage in order to buy the house. See more words from the same century For example, suppose someone takes out a mortgage for $417,000.

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