### Question
How does the law define first mortgage?


### Answer
Under *12 U.S.C. § 1748*, **first mortgage** is defined as:

> such classes of first liens as are commonly given to secure advances on, or the unpaid purchase price of, real estate, under the laws of the State in which the real estate is located, together with the credit instruments, if any, secured thereby

#### Citation:
  - *12 U.S.C. § 1748*
  - Heading: **CHAPTER 13-NATIONAL HOUSING > SUBCHAPTER VIII-ARMED SERVICES HOUSING MORTGAGE INSURANCE**

