It can be daunting getting your first home loan. There’s a lot to get your head around, not to mention the loan itself is likely to be a substantial amount of money.
You don’t have to take this big step by yourself, that’s what we’re here for. We can help you every step of the way or with anything in between.
A guarantor is typically a family member, like a parent who agrees to offer their own property as security on the loan. The bank lends you 80% which is secured against the property you buy, and the remaining amount (20-25% which includes Lenders Mortgage Insurance - LMI) is secured against your guarantors’ property. If you have any savings, that will reduce the amount secured against your guarantors’ property.
Must knows about Guarantor loans:
Remstorm Pty Ltd ATF Goodwin Home Loans Unit Trust Credit Representative 516354 is authorised under Australian Credit Licence Number: 389328 | ABN: 31652305109.
Your full financial situation and requirements need to be considered prior to any offer and acceptance of a loan product.
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