First Mortgage

# A mortgage that is registered first against the property. This mortgage has to be paid first in the event of sale or default.

# A real estate mortgage that has priority over all other mortgages on a specified piece of real estate.

# A mortgage which is in first lien, taking priority over all other liens. In case of a foreclosure, the first mortgage will be repaid before any other mortgages.

# The mortgage that is in first place among any loans recorded against a property. Usually refers to the date in which loans are recorded, but there are exceptions.

# A mortgage which is in first lien position, taking priority over all other liens (which are financial encumbrances).

# The mortgage that has first claim in the event of default.

# A mortgage that is the primary lien against a property.

# A mortgage that is the primary lien against a property and has priority over any subsequently recorded mortgages in the event that the borrow defaults on the loan.

# a mortgage that creates a lien against real property with the lien having first priority against other claims in the event of foreclosure. Also called a senior mortgage.

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

# The mortgage that has first claim (or "lien") in the event of a default.

# The first security registered on a property. Additional mortgages secured against the property are termed 'secondary'.

# A legal document pledging collateral for a loan that has first priority over all other claims against the property except taxes and bonded indebtedness.

# A real estate loan that creates a primary lien against real property.

# A mortgage that, when registered, is first in line on the property, giving the lender superior right to the proceeds of the sale of the property over other, later claimants.

# The original loan taken out to purchase a home.

# The mortgage that is in the first lien position. This means that should the property be foreclosed (or more typically when the property is sold), the first lien gets paid before any other liens. See also second mortgage.

# The primary mortgage on a property. When the property is sold, the lender who issued the first mortgage is paid first.

# A mortgage having priority over all other voluntary liens on a specific property.

# A mortgage recorded in first place on a property and having priority over all other mortgages that follow.

# The primary lien against a property. Fixed Rate - An interest rate that is fixed for the term of the loan.

# The primary home loan on a property, which has priority over all other claims to the title.

# A mortgage on property creating a prior claim over any subsequent mortgages or charges and usually conveying the legal estate to the mortgagee. Upon foreclosure of the mortgage, the first mortgagee must be fully satisfied out of the proceeds before any subsequent claims.

# Mortgage given first priority at the Registry/Land Titles Office. Can be conventional or high ratio. They give you the best rate of interest.

# is the loan which has first claim on a property.

# a mortgage that has priority over all mortgages and liens except those imposed by law