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First mortgage |
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First mortgageA type of mortgage that through a lien gives precedence to the lender of the first mortgage over all other lenders in case of default.First mortgageThe original loan taken out to purchase a home.First MortgageA mortgage on property that is superior in position to any other mortgage.First mortgageA mortgage which carries priority over any subsequent mortgages if the borrower goes into default and his/her assets have to be sold to pay creditors.Similar MatchesMortgage code arbitration schemeMortgage code arbitration schemeAn arbitration service between members of the public and lenders. Consolidated mortgage bondConsolidated mortgage bondA bond that covers several units of property, sometimes refinancing mortgages on the properties. Alternative mortgage instrumentsAlternative mortgage instrumentsVariations of mortgage mortgage such as mortgage and variable-rate mortgages, mortgage, mortgage and several seldom-used variations. MortgageeMortgageeThe party lending the money and receiving the mortgage. Some states treat the mortgagee as the "legal" owner, entitled to rents from the property. Other states treat the mortgagee as a secured creditor, the mortgagor being the owner. The latter is the more modern and accepted view. Equity linked mortgageEquity linked mortgageThe lender takes ownership of a stake in the equity of the property. This means that they lend you less than the full amount that is required to buy the home. Interest is only charged on the amount that they lend you and not on the full value of the property. When you sell the property, the lender receives payment in proportion to the amount of equity that they own, and therefore benefits from any increase in the price of the property. Further SuggestionsBlanket MortgageMortgage advance Mortgage Broker Renegotiable Rate Mortgage Multifamily mortgage Growing Equity Mortgage (gem) Stepped fixed rate mortgage Stripped mortgage backed securities (SMBS) Guarantee mortgage Buy down mortgage reverse mortgage Tracker mortgages Cashback mortgages Commercial Mortgage Backed Securities Standing mortgage Strip mortgage participation certificate (strip PC) Fixed term reverse mortgage commercial mortgage Self certification mortgage fixed rate mortgage Mortgage application Freddie Mac (Federal Home Loan Mortgage Corporation) Insured Mortgage Self amortizing mortgage Mortgage reference fee |
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