Lifestyles of the rich and famous….certain professionals including models, sport stars, actresses and DJs are eligible to borrow 90% of a property purchase price and not have to pay mortgage insurance.
Unlike standard policies, this can be up to as much as a $2 million loan. These loans do not require evidence of 5% being in savings for three months.
This is also available for spousal purchases. In these situations the main income earner might not want to be on the title, for asset protection reasons.
This industry specific product, and so therefore likely disqualifies the majority of readers. However don’t despair as there are still products available that may assist you in a variety of these situations.
Spousal purchases are quite common. However this may require a little extra assistance from an experienced finance broker. Bee Finance Savvy can point you in the right direction.
Non genuine savings and small deposits
Not enough deposit? In this instance, a parental guarantee may be the answer for you A parental guarantee will allow you to avoid mortgage insurance.
Savings not held for three months? We also have access to lenders who have less strict criteria. Therefore, they will still approve those who want to purchase a home that don’t fit stricter lender’s criteria.
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