HomeTermsCompareFinance First MortgageThe definition for First Mortgage:A mortgage on property that is superior in position to any other mortgage. Similar MatchesAdjustable Rate Mortgages (arms)Adjustable Rate Mortgages (arms)Mortgage loans under which the interest rate is periodically adjusted to more closely coincide with current rates. The amounts and times of adjustment are agreed to at the inception of the loan. Also called: Adjustable Rate Loans, Adjustable Mortgage Loans (AML'S), Flexible Rate Loans, Variable Rate Loans. All inclusive Trust Deed (wrap around mortgage)All inclusive Trust Deed (wrap around mortgage)A financing technique which involves the creation of a new trust deed which includes the balance due on the existing note plus any new funds advanced. Blanket MortgageBlanket Mortgage(1) A mortgage covering more than one property of the mortgagor, such as a mortgage covering all the lots of a builder in a subdivision. (2) A mortgage covering all real property of the mortgagor, both present and future. When used in this meaning it is also called a "general mortgage". Further SuggestionsDirect Reduction MortgageEquitable Mortgage Federal National Mortgage Association Gnma (government National Mortgage Association) Options Graduated Payment Mortgage Growing Equity Mortgage (gem) H Hard Money Mortgage Click to compare definitions of First Mortgage Click to view definitions beginning fi |