Can I use a guarantor for my home loan?

Aussie Home Loans does allow the option of using a guarantor for home loans, which can be particularly beneficial for borrowers who may not meet the standard lending criteria or are looking to secure a more favorable loan amount. A guarantor is typically a family member or close friend who agrees to support the loan by providing their own financial assets as collateral. This can help the primary borrower secure the necessary funds, possibly without needing a significant deposit. The approval of a guarantor arrangement depends on the specific policies of Aussie Home Loans and the financial situation of both the borrower and the guarantor. Factors such as the guarantor’s credit history, income, and existing financial obligations will be considered. It is important for both parties to understand the implications involved, as the guarantor's property or savings may be at risk if the borrower cannot meet the loan repayments. For more detailed information, it may be helpful to visit the current Aussie Home Loans website and review their guidelines regarding guarantors.