first mortgage

noun

1. a mortgage having priority over other mortgages on property.

first mortgage

noun

1. a mortgage that has priority over other mortgages on the same property, except for taxation and other statutory liabilities

Other Words From

• first-mortgage adjective

Word History and Origins

Origin of first mortgage¹

First recorded in 1850–55

Example Sentences

The bid at the sale covered the first-mortgage lien and the entire mortgage claim of the Government, principal and interest.

From Project Gutenberg

"Or a consolidated first-mortgage bond," remarked the Bibliomaniac.

From Project Gutenberg