low doc high deposits guarantor bad credit home loan

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emmajane86
Posts: 2
Joined: Mon Apr 27, 2015 8:42 pm

low doc high deposits guarantor bad credit home loan

Post by emmajane86 »

hi i am single parents payments and family tax benefit and have been subcontracting for about 10mths. i will be around the 50thou mark for the financial year. I have 30thou as a deposit from a inheritance. i have been paying 1100 per month in rent without fail for the last 3 years and 650 for years beforehand. i have a few default one has been paid. my mother will also go gaurentor for me with around 200thou equity in one of her properties. i have 3 children and my monthly expenses are about 800 outside rent. no loans or cards, what would my borrowing power b if any? would someone lend me a mortgage ?

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Tony Dao
Mortgage Specialist
Posts: 111
Joined: Fri Apr 01, 2011 2:41 pm
Location: Sydney, Australia
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Re: low doc high deposits guarantor bad credit home loan

Post by Tony Dao »

Hi Emmajane86,

Thank you for using our forums.

Unfortunately Guarantor, low doc and defaults do not go together.

Some of criteria for low doc is 20% deposit and we cannot use guarantor with the low doc option.

It is recommended you give us a call to discuss in more detail.
Tony Dao
Senior Mortgage Broker
P | 1300 889 743 E | tony@homeloanexperts.com.au
Home Loan Experts

emmajane86
Posts: 2
Joined: Mon Apr 27, 2015 8:42 pm

Re: low doc high deposits guarantor bad credit home loan

Post by emmajane86 »

are there any other mortgage options that would suit my situation?

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