In the context of mortgages, who is referred to as the mortgagor?

The term "mortgagor" refers specifically to the borrower in a mortgage agreement. In this context, the mortgagor is the individual or entity that takes out a mortgage loan from a lender to purchase real estate. They are responsible for repaying the loan amount along with any interest to the lender over the specified term of the mortgage.

This relationship is fundamental in real estate transactions involving mortgages. The mortgagor provides the collateral—typically the property being financed—while receiving the necessary funds from the lender, who is known as the mortgagee. The mortgagee holds the lien on the property until the loan is fully repaid.

Understanding the roles in a mortgage agreement is crucial for grasping how financing works in real estate, which is why identifying the mortgagor as the borrower is accurate and relevant to the topic.