---
title: What is a borrower(s)?
description: The individual(s) extended a mortgage for a purchase or refinance transaction on a residential property. There may be multiple borrowers on the same loan.
---

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# What is a borrower(s)?

## The individual(s) extended a mortgage loan for a purchase or refinance.

The individual or individuals extended a mortgage loan for either the purchase or refinance of a residential property. There may be **multiple borrowers** for one mortgage loan.

**The borrower is responsible for making all associated payments** — including but not limited to principal & interest payments, homeowner’s (hazard) insurance, and property taxes – **over the life of the loan.** Legally, a borrower is considered a [mortgagor](https://www.jvmlending.com/glossary/#mortgagor).

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