How to Use first mortgage in a Sentence

first mortgage

noun

• Only about 4% of homes have first mortgages with rates of 6% and above.
  — Andrew Khouri, Los Angeles Times, 1 Apr. 2023
• The MyHome Assistance loan must be paired with a first mortgage from the agency.
  — Kathleen Pender, SFChronicle.com, 5 July 2018
• Smith says sometimes a line of credit can take longer for approval than a first mortgage.
  — cleveland, 15 Aug. 2021
• Instead, the second lien comes due when the first mortgage is paid off or the borrower sells the property.
  — Kathleen Pender, SFChronicle.com, 9 Apr. 2020
• If the home goes into foreclosure, the lender holding the home equity loan does not get paid until the first mortgage lender is paid.
  — Ivana Pino, Fortune, 7 Nov. 2022
• Most of these people are young adults struggling with their first mortgage and student debt repayments.
  — Dallas News, 10 Jan. 2022
• If a property has lost value when the borrower defaults, there may be no value left once the first mortgage is paid.
  — Ryan Dezember, WSJ, 25 Dec. 2018
• To qualify, homebuyers can earn up to 80% of the median income for the market and must gain preapproval for a first mortgage.
  — Kara Carlson, Dallas News, 9 July 2019
• The 30-year first mortgage, however, may have a higher interest than a market-rate loan.
  — Hudson Sangree, sacbee, 19 Mar. 2018
• The takeaway Getting a home equity loan works much like applying for your first mortgage did.
  — Aly J. Yale, Fortune, 6 Oct. 2022
• Accepting the first mortgage a lender offers you: Shopping around can result in a lower interest rate, which can save you a lot.
  — The Motley Fool, Dallas News, 16 Apr. 2023
• The partial claim second mortgage could be ignored until the house was sold, the mortgage was refinanced or the first mortgage was paid off, at which point the partial claim would have to be paid in full.
  — Jon Healey, Los Angeles Times, 12 Feb. 2024
• Others believed their second loans were rolled in with their first mortgage payments or forgiven.
  — Michael Hill, USA TODAY, 21 Nov. 2022
• Those debts have secondary claims to properties that are collateral for first mortgages.
  — Ryan Dezember, WSJ, 25 Dec. 2018
• As of their March investor presentation, ARI boasted a $6.5 billion global debt portfolio, with 84% of that in first mortgage loans.
  — Brett Owens, Forbes, 17 Apr. 2021
• Last year, Sweden got its first mortgage fund when Stabelo started offering home loans through online bank and broker Avanza.
  — Frances Schwartzkopff, Bloomberg.com, 25 Mar. 2018
• This involves replacing your current first mortgage with a larger one, allowing you to pocket the additional funds.
  — Kenneth R. Harney, miamiherald, 11 Apr. 2018
• Since a Heloc is typically a second mortgage on a home, in the event of a foreclosure, the holder of a second mortgage doesn’t get paid unless there is sufficient equity in the property after the first mortgage is paid off.
  — Robyn A. Friedman, WSJ, 29 Apr. 2021
• Imagine a young family 5 years into their first mortgage trying to financing the sub-division of their lot, new construction of more housing on the subsequent parcels, and then managing the rental and maintenance of 3 rental units.
  — Roger Valdez, Forbes, 1 Aug. 2022
• But starting to build their credit can also be important since a solid track record can be instrumental in attaining life goals ranging from buying a car to obtaining their first mortgage.
  — Charisse Jones, USA TODAY, 15 Aug. 2023
• First, increase funding for rental assistance to keep people in their homes with dedicated funding by removing the second mortgage deduction and capping the first mortgage deduction.
  — Jamie Goldberg, oregonlive, 19 Apr. 2022
• Because if the condo association prevails, under many court decisions, that would literally wipe out a first mortgage.
  — Benny L. Kass, chicagotribune.com, 14 Dec. 2017
• Wells Fargo Bank said in court papers last month that the hotel’s owner, real-estate investor Thor Equities, was in default on its $333.2 million first mortgage, making the property one of the first major foreclosure actions during the pandemic.
  — Peter Grant, WSJ, 22 Sep. 2020
• Terra Capital Partners, a New York investment firm that specializes in commercial property debt, is offering fewer construction loans and making more first mortgages, which are safer.
  — Peter Grant, WSJ, 18 Dec. 2018
• Their collateral includes a subordinated mortgage on the Moderne's apartment, parking and retail portions; a first mortgage on the condominium units; and personal guarantees from Barrett and his partner, Tan Lo.
  — Tom Daykin, Milwaukee Journal Sentinel, 19 June 2018

Last Updated: 2 Aug 2024