Real Estate Terms Glossary
What is a Mortgagor?
In real estate, a mortgagor is a borrower. A mortgagor receives a loan from the mortgagee, usually in exchange for the property deed as collateral. As part of the loan approval process, the lender or bank will run multiple checks with a particular focus on affordability and creditworthiness.
To come to a responsible and prudent lending decision, the bank will access the mortgagor's credit report and assess the financial information it contains. Note that the mortgagor is also required to pledge the title of the property or home as collateral.
Examples of Mortgagor
- Example 1: Home loan borrower
Here’s Investopedia’s definition of a Mortgagor .
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