If you do not have sufficient funds for a deposit or don’t want to pay Loan Mortgage Insurance, your parents are able to guarantee your loan. This means that your parents can offer a portion of their property as security. The Guarantors (parents) security does not cover the entire loan – only a portion. Once the loan is below the 80% LVR the guarantee can be released.
Contact the team at ‘You First®’ to review your current situation and goals, and plan strategy to get into your first home sooner