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Mortgage Definition

–noun
1.a conveyance of an interest in property as security for the repayment of money borrowed.
2.the deed by which such a transaction is effected.
3.the rights conferred by it, or the state of the property conveyed.
–verb (used with object)
4.Law. to convey or place (real property) under a mortgage.
5.to place under advance obligation; pledge: to mortgage one's life to the defense of democracy.
From Dictionary

Loan Definition

–noun
1.the act of lending; a grant of the temporary use of something: the loan of a book.
2.something lent or furnished on condition of being returned, esp. a sum of money lent at interest: a $1000 loan at 10 percent interest.
3.loanword.
–verb (used with object)
4.to make a loan of; lend: Will you loan me your umbrella?
5.to lend (money) at interest.
–verb (used without object)
6.to make a loan or loans; lend.
7.on loan,
a.borrowed for temporary use: How many books can I have on loan from the library at one time?
b.temporarily provided or released by one's regular employer, superior, or owner for use by another: Our best actor is on loan to another movie studio for two films.
From Dictionary

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