Credit.com, Wherever you stand, we stand by you.®
News | Education | Answers | Forum | CreditBloggers | Login  
Answers

Knowledgebase Home | Favorites | Forum
Search the Knowledgebase Browse by Category

[Advanced Search]
What is the difference between a first mortgage and a second mortgage?
Article Details

Last Updated
2nd of November, 2009
Would you like to...
? Discuss
Print this page Print this page
Email this page Email this page
Post a comment Post a comment
Subscribe me
Add to favorites Add to favorites
Remove Highlighting Remove Highlighting
Edit this Article Edit this Article
Edit this Article Quick Edit
Export to PDF
User Opinions (0 votes)
No users have voted.
How would you rate this answer?
Helpful
Not helpful
A first mortgage is the primary loan on a real estate property. It has priority over all other “secondary” loans. A second mortgage, on the other hand, is a loan that uses a home’s equity as collateral.

A first mortgage must be repaid before a second mortgage in a sale.

Thinking about purchasing or refinancing a home? Learn about the homebuying process and refinancing options.

Related Articles