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Guarantor Loan Calculator

Guarantor Loan Calculator

Your purchase details

Your purchase

Purchase price?
Loan amount?

Your guarantors

Your Guarantor
Property value?
Home loan?

Loan details

Which property is the Guarantor using as security? ?
Is the Guarantor still working? ?
Do you have 5% in genuine savings? ?
Is your loan a construction loan? ?

Contact a mortgage broker

Talk to one of our mortgage brokers about your situation: Yes  No 

Tips for your situation

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How does this calculator work?

This calculator is designed to help you work out the size of the limited guarantee and also to work out if you are likely to have trouble obtaining approval with some lenders.

Unlike with a standard home loan, the banks all have very different policies for guarantor loans. As a result many people approach their bank, only to be declined because of a lending guideline that doesn’t even make any sense!

This is why it is important to find out how the banks will view your application. Applying with the right lender first time around prevents you from damaging your credit score by having too many unnecessary enquiries on your credit file.

Learn more about guarantor loans

We have written a comprehensive guide to guarantor loans which explains everything from the types of guarantor loans available, to limiting the size of the guarantee and even how to borrow more than 100% of the purchase price!

We can help!

While most bank managers and mortgage brokers have only approved a few guarantor loans in their entire career, we deal with them everyday! We know exactly which lender can help, how to get your loan approved and most importantly how to setup the loan to maximise the protection for the person who is guaranteeing your loan.

If you would like to speak to a mortgage broker who can help please call 1300 889 743 or enquire online and one of our specialist brokers will contact you to discuss your situation.

  • Monica Rutner

    Hi, I recently got PR, now I want to buy a house of my own. However, I don’t have sufficient savings of my own, and one of my friend has suggested me to try with a guarantor, and he’s even agreed to give me a guarantee.

    Will a friend as a guarantor work to obtain a home loan? Hope to have some valuable insights from you guys.

  • Hi Monica,

    Most lenders will only accept a parent as a guarantor. Some of our lenders can consider other relationships such as grandparents, siblings, extended family (aunt / uncle / cousin) and friends. Where the guarantor is not a family member the lender will do additional verification and check but it is usually not a problem.

  • jimbob

    I wanted to confirm under a guarantor arrangement whether the “Total debt secured on guarantor’s property” is the limit of liability the guarantor has on the transaction? Also at what point does this liability reach $0?

  • Hi Jim

    The total debt secured on the guarantors property is their current loan + the size of the guarantee they are providing for your home loan. If they have no debt on their property then this is just the limited guarantee they are providing for your loan.

    You need to apply to remove the guarantee, it doesn’t come off automatically. Most people do this once they owe below 80% of the property value as it avoids lenders mortgage insurance

  • jimbob


  • Dodgshun

    My bank told me that they would like to see me to have 5% in genuine savings but I don’t have any, which is exactly why I’m going guarantor in the first place. Isn’t genuine savings unnecessary when we have a guarantor?

  • Hey Dodgshun,

    Yes, genuine savings is not required in most cases, however, this isn’t set in stone so despite having a guarantor, some lenders still require you to have saved 5% of the purchase price. You can speak with one of our mortgage brokers on 1300 889 743 if you’d like help in finding a lender that can accept your loan application without any genuine savings.

  • Dodgshun

    Yes, I’d very much like that. Will be calling soon. Thanks.