Mortgagor

Definition

  • The borrower in a mortgage transaction.

Synonyms
purchaser, mortgage applicant, home buyer, owner, borrower, risk taker

Related Terms and Acronyms

  • Assignor Definition,
    • Borrow Definition,
      • To get a loan of money.
      • Sand, gravel or other material used for grading; a slope.
    • Borrower Definition,
      • A person who borrows money or obtains a loan.
    • Co-mortgagor Definition,
      • A party or individual who co-signs for a mortgage loan.
    • Covenantor Definition,
      • A person who promises to be responsible for the repayment of a loan.
    • Debtor Definition,
      • Anyone who owes money to a creditor.
      • A person who has filed a petition for relief under the bankruptcy laws.
    • Guarantor Definition,
      • Someone who guarantees something.
    • Mortgage (mtg) Abbreviation, Important,
      • A mortgage is a contract stipulating a specific real property, typically a residence or building, as collateral for a loan. The mortgage incurs a rate of interest that varies according to term and other features.
    • Mortgage Broker (MB) Acronym, Important,
      • One who finds clients perspective lenders at generally no cost. Mortgage Brokers have a special relationship with lenders and can offer their clients the best rates and service. CanEquity goes through great lengths to ensure you are serviced by the best Mortgage Brokers in Canada.
    • Mortgagee Definition, Important,
      • The lender in a mortgage transaction.
    • Owner Occupant Definition,
      • A borrower who resides in the property used as security for the loan.
    • Payor Definition,
      • One who makes a payment to another party.
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