Primary Borrower Law and Legal Definition

A primary borrower is a term used in lending law, which varies depending on the entity. For example, one entity may define the primary borrower as the borrower earning the largest portion of qualifying income. The term may also be used to refer to a debtor who has another co-sign or guarantee a loan on their behalf. It may be defined as the person whose name is first placed on an application for credit. The precise definition is defined by each lender.