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first mortgage
noun
- a mortgage having priority over other mortgages on property.
first mortgage
noun
- a mortgage that has priority over other mortgages on the same property, except for taxation and other statutory liabilities
Other Word Forms
- ھ-ǰg adjective
Word History and Origins
Origin of first mortgage1
Example Sentences
We were lucky enough to close on our first mortgage with a 2.75% interest rate.
Hundreds of thousands of potential first-time buyers also hope to get a place of their own with their first mortgage.
Hundreds of thousands of potential first-time buyers have been hoping to get a place of their own with their first mortgage.
They’re treated as second mortgages, but require no payments of any kind until the home is refinanced, resold or its first mortgage paid off, at which point the state loan must be repaid in full.
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.
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