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Review by
Jodie Humphries was a social media manager, producer and writer at Finder.
There are no ongoing monthly fees and no application fees with this loan. You will not be asked to pay lenders mortgage insurance (LMI) nor a deposit as it is structured for borrowers who will be using a guarantor. By using a guarantor to help you minimise your upfront costs and the bank's risk, you can also borrow up to 110% loan-to-value ratio (LVR), subject to the bank's approval of your family member as guarantor.
There are no application or ongoing fees with this loan and you will also be able to avoid lenders mortgage insurance when using the Family Pledge Home Loan.
If you've compared your borrowing options and decided this is the right loan for you and have a family member who can go guarantor for you click "Go to Site" to begin the application process. To be eligible for this loan you must be 18 years or older and have a good credit rating. It's also a requirement that you are an Australian citizen or a permanent Australian resident.
The amount you will be eligible to borrow will be based on your financial situation. In order for Greater to assess your application, you'll need to provide the following information:
The Great Rate Discount Variable Family Pledge Home Loan from Greater offers a competitive lending option for potential borrowers. However, make sure to compare a range of home loans before deciding which one is the best for your situation.