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

“Any home buyer who assumes such a mortgage would still need to fund the rest of the home price somehow, either in cash or with a second mortgage.”

From Barron's

I have looked at home-equity investments, home-equity lines of credit, second mortgages, etc., all of which we don’t qualify for for one reason or another.

From MarketWatch

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

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

From MarketWatch

Last year, Zeldin and his wife obtained a second mortgage, for $712,500, on a property in Washington, D.C., a short walk from the EPA’s headquarters.

From Salon