Who is the Mortgagor in a mortgage agreement?

In a mortgage agreement, the Mortgagor is the party that borrows money to purchase a property, typically referred to as the borrower. This individual or entity encumbers the property with a mortgage as a security interest for the loan provided by the lender. When the Mortgagor executes the mortgage document, they agree to repay the loan according to the terms set forth, with the property serving as collateral.

This definition aligns with the fundamental concepts of mortgage agreements, where the Mortgagor is responsible for making regular payments until the debt is settled. The other options include entities that have different roles: the one who provides the loan refers to the lender, not the Mortgagor. The real estate agency facilitates the sale but does not inherently involve lending or borrowing. Meanwhile, the lender is distinctly responsible for providing the loan and managing equity arrangements, again indicating different responsibilities within the agreement.