question
Q: I have saved $28,000 and found a unit I would like to make an offer on… around $600,000. My income is $110,000 and the mortgage broker I spoke to suggested a family guarantee loan but when he found out my parents had a loan on their property he said it wasn’t possible. Their loan is only $90,000 and they have plenty of equity. Is what the broker said right and are there any other options available?
