First mortgage


 

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First mortgage

A 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 mortgage

The original loan taken out to purchase a home.

First Mortgage

A mortgage on property that is superior in position to any other mortgage.

First mortgage

A 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 Matches

Mortgage code arbitration scheme

Mortgage code arbitration scheme

An arbitration service between members of the public and lenders. 


Consolidated mortgage bond

Consolidated mortgage bond

A bond that covers several units of property, sometimes refinancing mortgages on the properties.


Alternative mortgage instruments

Alternative mortgage instruments

Variations of mortgage mortgage such as mortgage and variable-rate mortgages, mortgage, mortgage and several seldom-used variations.


Mortgagee

Mortgagee

The 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 mortgage

Equity linked mortgage

The 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 Suggestions

Blanket Mortgage
Mortgage 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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