first mortgage
noun
: 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
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This was afforded by what's known as a piggyback mortgage, or an 80/20 mortgage system, where the first mortgage accounted for 80% of the debt and the second absorbed the leftover 20%.
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Aksha Mittapalli, Better Homes & Gardens, 12 July 2024
An applicant must be at least 18 years old and have a first mortgage prequalification or preapproval with a mortgage lender licensed by a Nationwide Mortgage Licensing System and Registry to qualify for Washington County's Heart & Homestead Earned Down Payment Incentive.
—Cathy Kozlowicz, Journal Sentinel, 29 Mar. 2024
The partial claim second mortgage could be ignored until the house was sold, the mortgage was refinanced or the first mortgage was paid off, at which point the partial claim would have to be paid in full.
—Jon Healey, Los Angeles Times, 27 Mar. 2024
They’re treated as second mortgages, but require no payments of any kind until the home is refinanced, resold or its first mortgage paid off, at which point the state loan must be repaid in full.
—Jon Healey, Los Angeles Times, 20 Jan. 2024
See all Example Sentences for first mortgage 
Aksha Mittapalli, Better Homes & Gardens, 12 July 2024
An applicant must be at least 18 years old and have a first mortgage prequalification or preapproval with a mortgage lender licensed by a Nationwide Mortgage Licensing System and Registry to qualify for Washington County's Heart & Homestead Earned Down Payment Incentive.
—Cathy Kozlowicz, Journal Sentinel, 29 Mar. 2024
The partial claim second mortgage could be ignored until the house was sold, the mortgage was refinanced or the first mortgage was paid off, at which point the partial claim would have to be paid in full.
—Jon Healey, Los Angeles Times, 27 Mar. 2024
They’re treated as second mortgages, but require no payments of any kind until the home is refinanced, resold or its first mortgage paid off, at which point the state loan must be repaid in full.
—Jon Healey, Los Angeles Times, 20 Jan. 2024
See all Example Sentences for first mortgage
These examples are programmatically compiled from various online sources to illustrate current usage of the word 'first mortgage.' Any opinions expressed in the examples do not represent those of Merriam-Webster or its editors. Send us feedback about these examples.
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“First mortgage.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/first%20mortgage. Accessed 26 Jul. 2024.
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