The borrower under a note secured by a mortgage is the

The borrower under a note secured by a mortgage is referred to as the mortgagor. This term specifically identifies the individual or entity that takes on debt and provides the property as a security for that debt. In the context of a mortgage transaction, the mortgagor is the party who borrows money to purchase real estate and pledges the property to the lender as collateral until the loan is repaid.

In contrast, other roles in a mortgage transaction are defined by different terms: the mortgagee is the lender that provides the funds to the mortgagor, the trustee often refers to a third party who holds the title or a deed in trust for the lender, and the vendee refers to the buyer in a purchase or sale agreement, but not necessarily related to a mortgage transaction. Understanding these definitions is crucial for grasping the dynamics of mortgage agreements and real estate financing.