First Mortgage
Defined by Onias Derilus, Mortgage Capital · NMLS# 1859012 · Florida licensed mortgage broker
A first mortgage is the primary loan on a property, holding the senior lien position ahead of any second mortgage or home equity line.
What First Mortgage means
In a default, the first mortgage gets paid before junior liens, which is why it carries lower rates. Most purchase loans are first mortgages. Lien priority is set by recording order.
Florida example
A buyer financed a Tampa home with a first mortgage and later added a home equity line as a second lien, which sat behind the first in priority.
What it is
A first mortgage is the primary loan on your home and holds first lien position. It gets paid first if the home is sold or foreclosed.
Any other home loan ranks behind it.
Why it matters
First lien position usually means a lower rate than a second loan. It is the core of most home financing.
We help you structure your primary loan well. Reach out and we will find your best terms.