Re: Help me figure out the size of the limited guarantee
Posted: Tue Apr 02, 2019 5:08 pm
Hello Kelly. Welcome to the forums.
A limited guarantee is a great way to reduce the risks associated with being a guarantor while still being able to receive the full benefits of a guarantor home loan. However, when your guarantor already has a home loan then your lender will take a second mortgage behind their loan. Not every lender will accept this structure.
According to the figures you’ve provided, the size of the limited guarantee secured on your parent’s property will be $150,000.
You can use our Guarantor Loan Calculator to help you work out the size of the limited guarantee as well as highlight any potential issues with your home loan application.
Keep in mind that every bank employs different methods to calculate the size of the limited guarantee, so this figure might vary.
Our mortgage brokers specialise in guarantor home loans.
Give us a call on 1300 889 743 or fill in our free assessment form and one of our guarantor loan specialist will contact you to discuss your situation.
Cheers,
A limited guarantee is a great way to reduce the risks associated with being a guarantor while still being able to receive the full benefits of a guarantor home loan. However, when your guarantor already has a home loan then your lender will take a second mortgage behind their loan. Not every lender will accept this structure.
According to the figures you’ve provided, the size of the limited guarantee secured on your parent’s property will be $150,000.
You can use our Guarantor Loan Calculator to help you work out the size of the limited guarantee as well as highlight any potential issues with your home loan application.
Keep in mind that every bank employs different methods to calculate the size of the limited guarantee, so this figure might vary.
Our mortgage brokers specialise in guarantor home loans.
Give us a call on 1300 889 743 or fill in our free assessment form and one of our guarantor loan specialist will contact you to discuss your situation.
Cheers,