first mortgage

noun

Definition of first mortgage

: a mortgage that has priority as a lien over all mortgages and liens except those imposed by law

Examples of first mortgage in a Sentence

Recent Examples on the Web Imagine a young family 5 years into their first mortgage trying to financing the sub-division of their lot, new construction of more housing on the subsequent parcels, and then managing the rental and maintenance of 3 rental units. Roger Valdez, Forbes, 1 Aug. 2022 Set in 1901, an ambitious portrait of Alexey Alchevsky, founder of Russia’s first mortgage bank and Ukrainian Donbas patriot, framed through a procedural narrative of a young policeman investigating his mysterious death. John Hopewell, Variety, 6 June 2022 But a home equity line of credit (HELOC) allows homeowners to tap the equity in their primary home while keeping the underlying first mortgage in place. Globe Correspondent, BostonGlobe.com, 22 May 2022 First, increase funding for rental assistance to keep people in their homes with dedicated funding by removing the second mortgage deduction and capping the first mortgage deduction. Jamie Goldberg, oregonlive, 19 Apr. 2022 Like many first mortgage lenders, the Blackstone REIT moved to the sidelines during the first six months of the pandemic. Peter Grant, WSJ, 19 May 2021 Smith says sometimes a line of credit can take longer for approval than a first mortgage. cleveland, 15 Aug. 2021 Since a Heloc is typically a second mortgage on a home, in the event of a foreclosure, the holder of a second mortgage doesn’t get paid unless there is sufficient equity in the property after the first mortgage is paid off. Robyn A. Friedman, WSJ, 29 Apr. 2021 As of their March investor presentation, ARI boasted a $6.5 billion global debt portfolio, with 84% of that in first mortgage loans. Brett Owens, Forbes, 17 Apr. 2021 See More

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'first mortgage.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

First Known Use of first mortgage

1728, in the meaning defined above

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Time Traveler for first mortgage

Time Traveler

The first known use of first mortgage was in 1728

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Dictionary Entries Near first mortgage

first meridian

first mortgage

first-movement form

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Statistics for first mortgage

Last Updated

4 Aug 2022

Cite this Entry

“First mortgage.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/first%20mortgage. Accessed 15 Aug. 2022.

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More Definitions for first mortgage

first mortgage

Legal Definition of first mortgage

— see mortgage

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