Mortgagor

Definition

• The borrower in a mortgage transaction.

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

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.