What Is a Mortgagor in Real Estate?
A mortgagor is the borrower in a real estate loan. When a homeowner takes out a mortgage, they become the mortgagor, granting the lender a security interest in the property until the loan is fully repaid.
📌 Mortgagor Definition
The mortgagor is the person who:
- borrows money to purchase or refinance a home
- grants the lender (mortgagee) a lien on the property
- makes monthly mortgage payments
- must maintain taxes, insurance, and property condition
The mortgagor appears throughout the Closing Disclosure and on the recorded mortgage or deed of trust.
🔎 What the Mortgagor Is Responsible For
- Making principal and interest payments
- Paying property taxes and insurance
- Maintaining the home
- Following loan terms (no unauthorized transfers, etc.)
- Providing accurate information during underwriting
🆚 Mortgagor vs. Mortgagee
| Term | Definition |
|---|---|
| Mortgagor | The borrower/homeowner who grants the lender a lien. |
| Mortgagee | The lender that provides financing and holds the lien. |
Full counterpart guide: What Is a Mortgagee?