Difference between Mortgagor and Mortgager

What is the difference between Mortgagor and Mortgager?

Mortgagor as a noun is one who uses property they own as security for a loan; the borrower in a mortgage agreement. while Mortgager as a noun is one who uses property they own as security for a loan, the borrower in a mortgage agreement.

We hope you now know whether to use Mortgagor or Mortgager in your sentence.