Coastal Bank agrees to lend Dobie the funds to buy a beach house. The loan has an unchanging rate of interest-the amount of each payment will be the same for the duration of the loan. In this deal, the borrower is

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In this scenario, Dobie is the borrower who is taking out a loan to purchase a beach house, making Dobie the mortgagor. The mortgagor is the individual or entity that borrows money, secured by a mortgage, to purchase property.

Coastal Bank Agrees to Lend Dobie the Funds to Buy