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Borrower mortgage canada ontario

A borrower in a mortgage transaction is also known as the mortgagor. The person, people or entity receiving a loan from a lender or bank, also known as the mortgagee.

As a mortgage borrower, there are responsibilities to comply with the terms and conditions of the mortgage commitment agreement before and during the term of the mortgage.

A mortgage borrower is responsible for qualifying for a mortgage, making payments, along with many other requirements set out in their mortgage commitment.


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