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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

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

Boris Johnson said working people would be able to put housing benefits towards their first mortgage.

From BBC • Jun. 9, 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

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