Home
E-Mail
Latest

First Mortgage at Real Estate Glossary

What is it? The primary mortgage on a property that has priority over all other voluntary liens.

Real Estate Definition Added By: Joseph

The First Mortgage definition has been viewed 242 Time(s)!




Send To Friends!

If you'd like to send the First Mortgage definition to yourself or to your friends/colleagues, just enter the e-mail addresses in the boxes below -





We hope you now understand the meaning of First Mortgage. If you need any more information on this term, please don't hesitate to contact us.

Other Similar Real Estate Terms:

Real Estate Term Back-End Ratio is The ratio of monthly housing costs (PITI) plus long-term debt service to total monthly income. (See front-end ratio, PITI)

Real Estate Term Discount points is Fees that a borrower pays at the time the lender makes the loan. A point equals 1 percent of the total loan amount.

Real Estate Term Money market funds is A mutual fund that pools the resources of individuals to invest in certain managed investments.

Real Estate Term Leasing Agent is Real estate salespeople who specialize in leasing rental properties. Skilled at telephone techniques, on-site customer qualifying and closing.

Real Estate Term Option is A situation in which a buyer puts down money for the right to purchase a piece of real estate within a set time period but does not have an obligation to buy.