what is a first mortgage 
a first mortgage is a primary lien on a property 1 as the primary loan that pays for a property it has priority over all other liens or claims on a property in the event of default a first mortgage is not the mortgage on a borrower s first home it is the original mortgage taken on any one property it is also called a first lien if the home is refinanced then the refinanced mortgage assumes the first mortgage position understanding first mortgages