What Is a First Mortgage?

A 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 real estate is financed by multiple mortgage loans. The first lender has the first right to claim the home through foreclosure and sell it to collect on the mortgage debt in the event that the borrower defaults on the mortgage..
BE IN TOUCH

Subscribe

SUBSCRIBE TO OUR NEWSLETTER

JOIN NOW!