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FAMILY PLEDGE/ GUARANTOR LOANS
Loans known as family pledge, family guarantee, guarantor or family support, are all virtually the same in that they allow purchasers who don’t have sufficient deposit to buy a home or save paying the mortgage insurance to buy a home sooner.
Learn the benefits, risks and responsibilities of the family member offering a loan Guarantee, to help the applicant get into their own home earlier or cheaper.
Learn the benefits, risks and responsibilities of the applicant(s), what you need to know, how it helps buy a home faster and the benefit that the Guarantor offers.
LENDERS MORTGAGE INSURANCE LOANS
Where an applicant has less than a 20% deposit plus the Stamp Duty, Transfers and legal costs, the lender will nearly always require you to pay costly lenders mortgage insurance – sometimes as much as $50,000 just for the insurance. We show you ways to reduce or avoid the insurance all together.
We detail strategies and insights into how you you can reduce, or in some cases totally avoid paying expensive (LMI) lenders mortgage insurance premiums.
How this little known lender product may save you thousands in lenders mortgage insurance, if you have a 15% deposit plus Stamp Duty costs, and satisfy the tighter lending criteria.
How the Family pledge/Guarantor loan works from both the Guarantor and Applicant perspective. If suitable, this loan may help you totally avoid lenders mortgage insurance.
The purpose of Finance Professionals is to give you information, choice and if you choose, service. Rather than risk working with someone new to the job, under training or just not service driven, we offer knowledge, skills and the people that are proven and experienced to handle your needs. A hand picked team with specialist skills and in most cases, the extra service costs you nothing at all.
Read the relevant information or if you know what you want, jump to the Qualification page for a free phone consultation. For updated mortgage and money saving tips, subscribe to our monthly newsletter and/or like our Facebook page. Remember, if anyone can, Finance Professionals can!
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