first mortgage

American  

noun

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

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first mortgage British  

noun

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

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Other Word Forms

• first-mortgage
  adjective

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Etymology

Origin of first mortgage

First recorded in 1850–55

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Example Sentences

See Examples For:

first mortgage

We were lucky enough to close on our first mortgage with a 2.75% interest rate.

From Salon ● Nov. 28, 2024

Hundreds of thousands of potential first-time buyers have been hoping to get a place of their own with their first mortgage.

From BBC ● Oct. 10, 2024

But before they made their first mortgage payment, a massive landslide upended life on Peartree Lane, pulling eight neighbors’ homes down a nearby canyon and pushing others into different levels of structural purgatory.

From Los Angeles Times ● Nov. 29, 2023

In the Miami area, Pastor Carlos Mendez and his wife, Lisset Garcia, signed a modification on their first mortgage in 2012, after financial hardships resulted in missed payments and a bankruptcy filing.

From Seattle Times ● Nov. 15, 2022

“It’s nice of him. Who would accept a house with such a big first mortgage as collateral? Only a friend.”

From "Typical American" by Gish Jen

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