First-lien vs. second-lien loan: What’s the difference?
The distinction has big practical consequences for borrowers.
5 min read
Sep 12, 2025
Jess Ullrich
Contributor, Personal Finance
EXPERTISE
- Loans
- Investing
- Insurance
- Credit
EDUCATION
- Bachelor of Arts and Master of Education, University of Massachusetts Lowell
Jess is a personal finance writer who's been creating online content since 2009. Before transitioning to full-time freelance writing, Jess was on the editorial team at Investopedia and The Balance. Her writing work has been published on Yahoo Finance, Forbes Advisor, Investopedia, Bankrate, and more.
When she’s not writing, you can find Jess spending time with her family or working in her garden.
Jess's latest articles
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What is a home equity sharing agreement?
You get cash out of your home, in return for a piece of the proceeds when you sell.
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How to buy a new house before selling yours
Buying a new home before selling your old one is possible, but it’s tricky.
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Why is housing supply so low? Understanding the U.S. housing shortage
What’s causing the U.S. housing shortage — and what might fix it.
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Miami housing market 2023
While cooling down, the Sunshine State’s lead city still has plenty of heat.
6 min read Dec 01, 2022