Definition: A mortgage is an agreement between a borrower and a lender to finance the purchase or acquisition of a property, such as a house or apartment. The borrower pays money to the lender in order to borrow the funds needed for the purchase of the property. In formal language, a mortgage is defined as "an obligation, usually made by a borrower to a lender in order to lend the borrower funds for a specified period of time for the purpose of financing the acquisition or purchase of real property." The term "loan" refers to the principle on which the mortgage depends. The terms "interest rate," "period of repayment," and "interest" are commonly used in the context of mortgages. Interest is the cost that the borrower pays for borrowing money, while the period of repayment refers to the length of time for which the borrower must repay the loan in full. In general, a mortgage is typically arranged through a bank or other financial institution, and it involves paying upfront for the funds needed for the purchase of the property. The lender will charge a fee based on the amount borrowed and the period of repayment, as well as the interest rate charged by the borrower. There are several types of mortgages, each with its own purpose and requirements. Some popular types include fixed-rate mortgages that pay the same monthly payment to both借款人和贷款人，以及浮动利率房贷，其中借款人支付的利息会随时间变化。
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