A mortgage lender is a financial institution or individual that provides loans to borrowers for purchasing real estate. These loans, known as mortgages, are secured by the property itself, meaning the lender can take possession of the property if the borrower fails to repay the loan. Mortgage lenders assess the borrower's creditworthiness, income, and the value of the property before approving the loan. There are various types of mortgage lenders, including banks, credit unions, and specialized mortgage companies. Each lender may offer different loan products, interest rates, and terms, allowing borrowers to choose the option that best fits their financial situation and goals.