Who would typically be referred to as a mortgagor?

A mortgagor is typically identified as the borrower in a mortgage agreement. This individual or entity is the one that takes out a loan from a mortgage lender to purchase real estate and pledges the property as collateral for the loan. The mortgagor is responsible for repaying the borrowed amount along with any interest as stipulated in the mortgage contract.

In this relationship, the lender provides the funds necessary for the borrower to acquire property, and in return, the lender holds a mortgage on the property until the loan is fully repaid. While the title holder is often the mortgagor, it is the role of the mortgagor as the borrower that is central in defining this term. Hence, referring to the mortgagor as the borrower of the mortgage encapsulates this relationship accurately.