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first mortgage

American

noun

a mortgage having priority over other mortgages on property.

first mortgage British

noun

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

"Collins English Dictionary — Complete & Unabridged" 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012

Other Word Forms

first-mortgage

adjective

Etymology

Origin of first mortgage

First recorded in 1850–55

Example Sentences

Examples are provided to illustrate real-world usage of words in context. Any opinions expressed do not reflect the views of Dictionary.com.

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 also hope to get a place of their own with their first mortgage.

From BBC • Nov. 15, 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

Land values declined accordingly, for the Klamath weed was considered to hold the first mortgage.

From "Silent Spring" by Rachel Carson

Definitions and idiom definitions from Dictionary.com Unabridged, based on the Random House Unabridged Dictionary, © Random House, Inc. 2023