1. First Mortgage Definition – Investopedia
The first mortgage is the original loan taken out on a property. The homebuyer could have multiple properties in their name; however, the original mortgages (1)…
Nov 29, 2021A first mortgage is the primary loan on a property. The original loan is referred to as the “first mortgage” or “first lien” when a piece of (2)…
2. Meaning of first mortgage in English – Cambridge Dictionary
Sep 21, 2022if a person or financial organization has a first mortgage on a property, they have the right to be paid first if its owner fails to pay (3)…
Aug 22, 2022A first mortgage is the primary lien against your real estate, taking precedence to all other mortgages. If the property is sold or if the (4)…
3. First Mortgage: Definition and Examples (2022)
What is a First Mortgage? Note that a first mortgage, also known as a primary loan, is a loan that’s in the first lien position. It means that this mortgage (5)…
4. First mortgage definition and meaning – Collins Dictionary
First mortgage definition: a mortgage that has priority over other mortgages on the same property, except for | Meaning, pronunciation, translations and (6)…
The term “first mortgage” refers to the original loan you use to buy a house. The term “second mortgage” is a general concept used to describe what banks and (7)…
5. Applying for Your First Mortgage Loan – FDIC
Jun 17, 2022The distinguishing feature of the fixed rate mortgage loan is that the interest rate does not change. This means your monthly principal and (8)…
6. What is a First Mortgage Lien?
A lien is a legal claim to an item of property. When you get a mortgage to buy a home, your lender uses the home as collateral. To do this, they place a (9)…
Jun 11, 2022A first mortgage is a lien on a property that secures the mortgage. It is a loan obtained for financing the purchase of a property, keeping the (10)…
7. First mortgage Definition & Meaning – Merriam-Webster
The meaning of FIRST MORTGAGE is a mortgage that has priority as a lien over all mortgages and liens except those imposed by law.(11)…
8. First Mortgage Collateral Definition | Law Insider
First Mortgage means a Mortgage that constitutes a first Lien on the real property and improvements described in or covered by that Mortgage. AB Mortgaged (12)…
First Mortgage means a Mortgage that constitutes a first Lien on the real property and improvements described in or covered by that Mortgage. Deed of Trust (13)…
9. When Is Your First Mortgage Payment Due?
Your first mortgage payment is due one full month after your closing date. In this article we’ll take a closer look at what you need to know about this (14)…
10. Best 2 Definitions of First-mortgage
Define first-mortgage. First-mortgage as a noun means A mortgage having priority over all other liens or encumbrances on the same property, except those, (15)…
11. What is the Difference Between a First and Second Mortgage?
A first mortgage is the primary loan that you take out to purchase a home. It is usually for a larger amount than a second mortgage and has a lower interest (16)…
Apr 12, 2021A first position loan is just like it (17)…
12. First Mortgage: Definition and Examples (2022)
A First Lien Home Equity Loan (First Lien) is a mortgage product, meaning it’s a loan secured with real estate as collateral. However, First Liens are (18)…
13. First Mortgage: Definition and Examples (2022)
A first lien HELOC is a line of credit and mortgage in one. They are considered open end mortgages. It often works by replacing your existing mortgage, taking (19)…
14. When is my first mortgage payment due?
When you own a home, mortgage payments are paid in arrears, which means the payment is due after the month is over. This means that you do not pay your first (20)…
First Mortgage. A mortgage on a property in which the lender has the right to full payment before any other lenders or liens on the same property are paid.(21)…
15. First-time Homebuyer Mortgage Guide and Calculators
What is a mortgage? Here’s a step-by-step first-time homebuyer guide to help you find your way through the process of buying a home and securing a loan.(22)…
16. Subordination of Mortgage – definition & explanation
The company financing the first mortgage may ask the property owner to have the other lender sign a Subordination of Mortgage which would state which lending (23)…
If you choose to refinance your first mortgage loan, the holder of your second loan would automatically move into first place, meaning it would be paid (24)…
17. What Happens to Liens and Second Mortgages in Foreclosure?
First mortgages are, as the name suggests, typically recorded first and are in the first lien position. Second mortgages, which are often recorded next, are (25)…
18. MAINE MORTGAGE LENDING FREQUENTLY-ASKED …
mortgage loans”: A residential mortgage loan can mean a first or The term does not include construction loans or temporary financings, (i.e., (26)…
19. Frequently Asked Questions (FAQs) – City 1st Mortgage
Q: What does my mortgage lender mean by points or origination fee? A: One point is equal to one percent of the loan amount. Points and origination fees are (27)…
20. Cash Out Refinance vs Home Equity Line of Credit
Home equity line of credit (HELOC) is usually taken out in addition to your existing first mortgage. It is considered a second mortgage and will have its own (28)…
Subordination is the process of ranking home loans (mortgage, HELOC or home equity loan) by order of importance. When you have a home equity line of credit, for (29)…
21. First-rank Mortgage Definition – P2PMarketData
Sep 22, 2022The first-rank mortgage is a term used to describe the priority of which lenders get paid first in case a borrower defaults. The real estate (30)…
22. What is a “higher-priced mortgage loan?”
Aug 18, 2022First-lien mortgages: If your mortgage is a first-lien mortgage, the lender of this mortgage will be the first to be paid if you go into (31)…
23. What Is Mortgage Subordination? | Quicken Loans
Jun 23, 2022A subordinate mortgage loan is any loan not in the first lien position. The subordination order goes by the order the loans were recorded. For (32)…
24. FAQ – Member First Mortgage
Member First Mortgage (MFM) is a Credit Union Service Organization (CUSO), wholly owned by 13 leading Credit Unions. We are a full service mortgage lender with (33)…
25. First mortgage loan Australia – Mango Credit
What is a short-term first mortgage? In the case of mortgages, or loans secured against property, ‘first’ refers to priority. That is, the first mortgage (34)…
Take advantage of the VA loan benefit you earned. Benefits include 100% financing and $0 down payment within VA loan limits for eligible veterans.(35)…
Getting pre-approved for a mortgage means you have been approved for financing. While this is not actually getting a mortgage, this important step shows the (36)…
May 11, 2022Your first mortgage payment is typically due at the start of the second month after closing. This means if you close at the end of a month, (37)…
Excerpt Links
(1). First Mortgage Definition – Investopedia
(2). First Mortgage: What Is It? – The Balance
(3). Meaning of first mortgage in English – Cambridge Dictionary
(4). What is a First Mortgage? – First Foundation
(5). First Mortgage: Definition and Examples (2022)
(6). First mortgage definition and meaning – Collins Dictionary
(7). First Mortgage Vs. Second Mortgage – Home Guides
(8). Applying for Your First Mortgage Loan – FDIC
(9). What is a First Mortgage Lien?
(10). First Mortgage | Features & Difference between First & Second …
(11). First mortgage Definition & Meaning – Merriam-Webster
(12). First Mortgage Collateral Definition | Law Insider
(13). First mortgage or deed of trust Definition | Law Insider
(14). When Is Your First Mortgage Payment Due?
(15). Best 2 Definitions of First-mortgage
(16). What is the Difference Between a First and Second Mortgage?
(17). Differences Between First & Second Position Loans
(18). Your Questions Answered: First Lien Home Equity Loans
(19). What is a First-Lien HELOC Mortgage & How Does it Work?
(20). When is my first mortgage payment due?
(21). First mortgage – Financial Dictionary
(22). First-time Homebuyer Mortgage Guide and Calculators
(23). Subordination of Mortgage – definition & explanation
(24). Resubordinating a Second Mortgage – MortgageLoan.com
(25). What Happens to Liens and Second Mortgages in Foreclosure?
(26). MAINE MORTGAGE LENDING FREQUENTLY-ASKED …
(27). Frequently Asked Questions (FAQs) – City 1st Mortgage
(28). Cash Out Refinance vs Home Equity Line of Credit
(29). What’s a subordination agreement, and why does it matter?
(30). First-rank Mortgage Definition – P2PMarketData
(31). What is a “higher-priced mortgage loan?”
(32). What Is Mortgage Subordination? | Quicken Loans
(33). FAQ – Member First Mortgage
(34). First mortgage loan Australia – Mango Credit
(35). VA Loans from Top Ranked VA Loan Lender Veterans First
(36). CHFA First time homebuyer Guide
(37). When Is My First Mortgage Payment Due After Closing?
Category: Finance
