Definition: A mortgagor is the property owner who gives a mortgage as security for a debt. In a typical home-loan example, the mortgagor is the borrower.
Example
Maya owns the property and gives Harbor Bank a mortgage to secure her loan. Maya is the mortgagor.
Keep the distinction clear
Follow the mortgage, not the money: the mortgagor gives the mortgage, while the mortgagee receives it. A mortgage can also secure someone else’s obligation, so “property owner giving the security” is the more precise definition.
Related terms
Mortgagee · Mortgage · Promissory Note
Keep studying
Mortgages: Borrower, Lender, Ownership, and Key Clauses
References: Florida Statutes §697.02 · CFPB guide to closing forms
Pronunciation (US): mor-gih-JOR; also MOR-gih-jer (capitals show stress)
Pronunciation reference: Merriam-Webster
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