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Other Names: Mortgage Contract Mortgage Form
Mortgage Agreement document preview

What is a Mortgage Agreement?

A Mortgage Agreement is a pledge by a borrower that they will relinquish their claim to the property if they cannot pay their loan. Contrary to common belief, a Mortgage Agreement isn't the loan itself; it's a lien on the property. Property can be expensive and sometimes a lender wants more than just the loan agreement to back everything up. A Mortgage Agreement is the remedy in case the loan isn't repaid. 
If you're in the process of buying property there's a good chance you'll need a Mortgage Agreement. Buying a home is often a person's biggest investment, and some collateral may need to be involved. As a borrower, you can't borrow an enormous sum of money without some incentive to pay back the loan - a Mortgage Agreement serves to guarantee the loan. Conversely, as a lender you're likely not going to want to lend a large sum of if you feel you won't get it back. A Mortgage Agreement puts a lien on the property and provides security to lenders. 
Note: Depending on your circumstances you may need a Deed of Trust instead.

When to use a Mortgage Agreement:

  • You're borrowing money to purchase property.
  • You're lending someone money to purchase property.
  • You manage a company that makes loans.

Sample Mortgage Agreement

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THIS (the "Mortgage") is made and entered on by and between , (the "Mortgagor") and of , , (the "Mortgagee") which term includes any holder of this Mortgage, to secure the payment of the PRINCIPAL SUM of together with interest thereon of % computed on the outstanding balance of the total purchase price of , as provided in this Mortgage, and also to secure the performance of all the terms, covenants, agreements, conditions and extensions of this Mortgage.


IN CONSIDERATION OF the loan made by Mortgagee to Mortgagor and for the purpose expressed above, the Mortgagor does hereby grant and convey to Mortgagee, with MORTGAGE COVENANTS, the following described property (the "Property") situated at , in the City of , of , in the State of , with the following legal description:





Mortgagor shall pay to Mortgagee the principal and interest as agreed and reasonable charges fixed by Mortgagee to satisfy and discharge this Mortgage of record and any other relevant loan documents, and all other sums hereby secured. Mortgagor shall keep and perform every other term, provision, covenant, and agreement of this Mortgage.




When the loan secured by this Mortgage has been paid in full with all interest due, this Mortgage shall become void.




a. Mortgagor warrants that it is lawfully seized of the Property, that it has full right and is lawfully authorized to sell, convey, or encumber the same, and that the Property is free and clear of all liens and encumbrances except as provided herein.

b. Mortgagor covenants to warrant and forever defend, all and singular, the Property unto the Mortgagee forever from and against the Mortgagor and all persons whomsoever lawfully claiming the same or any part thereof.

c. Mortgagor will make with each periodic payment secured by this Mortgage a payment sufficient to provide a fund from which the real estate taxes, betterment assessments and other municipal charges which can become a lien against the mortgaged premises can be paid by Mortgagee when due. This provision shall be effective only in the event that a fund for the same purpose is not required to be established by the holder of a senior mortgage.

d. In the event that Mortgagor fails to carry out the covenants and agreements set forth herein, the Mortgagee may do and pay for whatever is necessary to protect the value of and the Mortgagee's rights in the mortgaged Property and any amounts so paid shall be added to the Principal Sum due the Mortgagee hereunder.

e. In the event that any condition of this Mortgage shall be in default within a reasonable time, the entire debt shall become immediately due and payable at the option of the Mortgagee. Mortgagee shall be entitled to collect all costs and expenses, including reasonable attorney's fees incurred.

f. In the event that the Mortgagor transfers ownership (either legal or equitable) or any security interest in the mortgaged Property, whether voluntarily or involuntarily, the Mortgagee may at its option declare the entire debt due and payable.

g. This Mortgage is also security for all other direct and contingent liabilities of the Mortgagor to Mortgagee which are due or become due and whether now existing or hereafter contracted.

h. Mortgagor shall not commit waste or permit others to commit actual, permissive or constructive waste on the Property.

i. This Mortgage is upon the statutory condition and the other conditions set forth herein, for breach of which Mortgagee shall have the statutory power of sale to the extent existing under the laws of this State.



Mortgagor Signature:








STATE OF ss:, ss:, known to me (or proved to me on the oath of ______________________________) to be the person who is described in and who executed the within and foregoing instrument, and acknowledged to me that he or she executed the same....





On this _____ day of ____________________, _____, before me, ______________________________, the undersigned officer, personally appeared , known to me (or proved to me on the oath of ______________________________) to be the persons who are described in and who executed the within and foregoing instrument, and acknowledged to me that they executed the same.

Before me, a Notary Public (or justice of the peace) in and for said county, personally appeared the above named , who acknowledged that they did sign the foregoing instrument, and that the same is their free act and deed. In testimony whereof, I have hereunto subscribed my name at ________________________________, this _____ day of ____________________, _____.

The foregoing instrument was acknowledged before me this _____ day of ____________________, _____, by .

The foregoing instrument was acknowledged before me, by means of ☐ physical presence or ☐ online notarization, this _____ day of ____________________, _____ by , who are personally known to me or who have produced ________________________________ as identification.

This instrument was acknowledged before me on this _____ day of ____________________, _____ by .

On this _____ day of ____________________, _____, before me personally appeared , to me known to be the persons described in and who executed the foregoing instrument, and acknowledged that they executed same as their free act and deed.

On this _____ day of ____________________, _____, before me, ________________________________, personally appeared , known to me (or satisfactorily proven) to be the persons whose names are subscribed to the within instrument and acknowledged that they executed the same as for the purposes therein contained.

On this _____ day of ____________________, _____, before me, the undersigned, Notary Public for the State of Vermont, personally appeared , to me known (or to me proved) to be the identical persons named in and who executed the above , and acknowledged that such persons executed it as such persons' voluntary act and deed.

The foregoing instrument was acknowledged before me this _____ day of ____________________, _____, by .


In witness whereof I hereunto set my hand and official seal.




Notary Public

Signature of person taking acknowledgment



Name typed, printed, or stamped

Title (and Rank)



Title or rank


My commission expires _____________



Serial number (if applicable)

Serial number, if any


Notary Address:






A notary public or other officer completing this certificate verifies only the identity of the individual(s) who signed the document to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document.





On ____________________ before me, ________________________________, personally appeared , who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument.


I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct.


WITNESS my hand and official seal.




________________________________________ (Notary Seal)

Signature of Notary Public

Mortgagee Signature:







STATE OF ss:, ss:

About Mortgage Agreements

Learn about how to establish a lien on property to secure a loan

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