second mortgage

American  

noun

1. a mortgage the lien of which is next in priority to a first mortgage.

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second mortgage British  

noun

1. a mortgage incurred after a first mortgage and having second claim against the security

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Etymology

Origin of second mortgage

First recorded in 1900–05

Example Sentences

See Examples For:

second mortgage

If passed, the measure would create a state-administered loan program that offers qualified homebuyers a second mortgage of up to 17% of a home’s sale price.

From Los Angeles Times ● Jul. 6, 2026

Another said their flat was "unmortgageable and therefore unsaleable" because of the high ground rent, which meant they had to delay starting a family as they could not afford a second mortgage.

From BBC ● May 26, 2026

They used crowdfunding and took out a second mortgage on their home to scrape together $100,000 to pay for the procedure, setting $55,000 aside in what they thought was a safe escrow account.

From The Wall Street Journal ● Oct. 22, 2025

And I had to have a second mortgage on my house to guarantee the show to go into that building.

From MarketWatch ● Oct. 10, 2025

A big source of its growth had been the second mortgage.

From "The Big Short" by Michael Lewis