In this short 3-minute video, iChoice Principle Jason Khoury talks about the Family Pledge (or Family Guarantee) product. Jason talks about how LMI (Lender Mortgage Insurance) is required when borrowing more than 80% of the value of a property. To navigate the process without the full 80%, and without having to pay LMI, Jason talks about the limited guarantee that a family member with a property (or equity in a property) can provide meaning that you can borrow 100% of the property purchase price (in fact, 104% in total). Of course, when the value of the property increases and equity is created, the guarantor can be released.
The pledge is an excellent product that iChoice deals with on a daily basis. Give us a call and find out more.