The desire for the safety and security that home ownership provides can be traced all the way back to the Roman Empire, when the first documented mortgages appeared. A mortgage is a means for the borrower to live in their home while they pay it off in regular installments, as few people have the money to make such a big purchase up-front. The property is used as collateral— if the borrower cannot pay it off, the property can be seized and the lender recoups the money borrowed by selling it. The word ‘mortgage' originates from a French term used in Britain in the Middle Ages that means ‘death pledge.

https://www.forbes.com/advisor/au/home-loans/what-is-a-mortgage/

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