Who is the individual who obtains a real estate loan by signing a note and a mortgage?

The term that best describes the individual who obtains a real estate loan by signing a note and a mortgage is the mortgagor. The mortgagor is the borrower who pledges the property as collateral for the loan. In this role, the mortgagor is responsible for adhering to the terms of the loan agreement, which includes making regular payments to the lender.

While the mortgagee refers to the lender or financial institution that provides the loan, the term borrower can often create ambiguity since it sometimes encompasses both the mortgagor and the mortgagee relationship. A loan originator, on the other hand, is the person who helps process and facilitate the loan but does not directly borrow against the property. Therefore, the most precise term for the individual who signs a note and a mortgage is indeed the mortgagor.