A Guaranteed Loan is a loan that is guaranteed by a 3rd party individual.  These are great for people that have little or no savings, but have the income to be able to pay a home loan.  It can allow them to borrow the full purchase price of the home they are looking to purchase, as well as consolidate any other loans they may have.

A large number of lenders will agree to guaranteed loans under specific circumstances, this will be dependant on individual lender policy.