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Knowledgebase Home | Favorites | Forum Welcome to our knowledge base. To find what you're after, use the search box below or choose a category to view listed articles. Search the Knowledgebase Browse by Category [Advanced Search] -- Select Category -- Credit MythbustersLoans    - Personal Loans    - Auto Loans    - Home Loans    - Student LoansCredit CardsCredit Reports and ScoresCredit Report CardIdentity TheftDebt HelpConsumer Law Guide    - College Cost Reduction and Access Act    - Credit Card Accountability Responsibility and Disclosure Act (CARD Act)     - Credit Repair Organizations Act (CROA)    - Equal Credit Opportunity Act (ECOA)    - Fair and Accurate Credit Transactions Act (FACTA)    - Fair Credit Reporting Act (FCRA)    - Fair Debt Collection Practices Act    - Overdraft Rules for Debit and ATM CardsCustomer Support The article has been updated successfully. Knowledgebase Home > Loans > Home Loans 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 Email this page Post a comment Subscribe me Add to favorites Remove Highlighting Edit this Article Quick Edit Export to PDF User Opinions (2 votes) 50% 50% How would you rate this answer? Helpful Not helpful Help us improve. Why was this unhelpful? Thank you for rating this answer. 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 What is an Alt A mortgage? What is a biweekly mortgage? What is an 1/1 ARM? What is a cash out refinance? What’s foreclosure? Continue