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Buying your first home7 steps to home ownershipFirst Home Owners GrantYour storiesChecklistsFixed Rate Home LoanThe easy way to fix your loanFull Feature Home LoanAll you'll ever need in a home loanLow Rate Home LoanNo fuss, no frills, low rateSelf-employedLow Doc Fixed Rate Home LoanFixed rate loans for the self-employedLow Doc Home LoanWorking harder for the self-employedLow Doc Line of CreditUnlock your equityRefinancingRenovation helpFixed Rate Home LoanThe easy way to fix your loanFull Feature Home LoanAll you'll ever need in a home loanLow Rate Home LoanNo fuss, no frills, low rateInvestingInvestment SeminarsFirst time investor e-mail programFree Residex ReportKickstart Investor ProgramArticles for property investorsFixed Rate Home LoanThe easy way to fix your loanFull Feature Home LoanAll you'll ever need in a home loanInvestor Home LoanBest investment home loanLine of CreditUnlock the equity in your homeOur home loansFixed Rate Home LoanFull Feature Home LoanLow Rate Home LoanInvestor Home LoanLine of CreditLow Doc Fixed Rate Home LoanLow Doc Home LoanLow Doc Line of CreditFlexible featuresValue Advantage PackageDeposit BondFast TrackConstruction OptionLifestyle OptionInterest only in Advance OptionBridging LoanOffset AccountHome loan calculatorsProperty cash flow analyzerEasy savings calculatorRepayments calculatorAffordability calculatorExtra repayments calculatorStamp duty calculatorBudget planner...more calculatorsInterest ratesResources & FAQsFees and chargesFrequently asked questionsForms and downloadsGlossaryMortgage basicsHome loan hints & tips myRAMS See your balances, pay bills, transfer funds, mobile access
Low Rate Home LoanNo fuss, no frills, low rate Meet with a home loan expert Have us call you Interest rate p.a. 6.15% with introperiod Comparison rate* p.a. A nominal interest rate incorporating certain fees and charges to help consumers identify and compare the true cost of a home loan 6.47% Ideal for: First home buyers, owner occupiers Option to discount the variable interest rate by 0.15%pa for the first 3 years from the base rate The option of Interest Only repayment for up to 10 years for loans for investment purpose or up to 5 years for owner occupied loans Gives you the flexibility to make extra repayments on your loan Details Fees Flexible Features Scenario This is an introductory variable rate, available for the first 3 years, after which, the rate will revert to the undiscounted rate. Introductory rate optionNo fee rate option Interest rate p.a. 6.15% 6.30% Comparison rate* p.a. A nominal interest rate incorporating certain fees and charges to help consumers identify and compare the true cost of a home loan6.47% 6.37% Minimum loan size Minimum loan size to be borrowed$15,000 $15,000 Maximum loan size Maximum loan size to be borrowedNo maximum Owner Occupier Max LVR The maximum loan to value ratio ("LVR") means the amount you can borrow expressed as a percentage of the security (property) value. For example, 90% LVR means you can borrow up to 90% of the value of the property (Refer Credit Guidlines for full details) 95%1 Investor Max LVR The maximum loan to value ratio ("LVR") means the amount you can borrow expressed as a percentage of the security (property) value. For example, 90% LVR means you can borrow up to 90% of the value of the property (Refer Credit Guidlines for full details) 95%2 Redraw A redraw facility allows you access to the available funds (if any) in your home loanYesNo minimum Loan Splitting Splitting the loan into two (or more) accounts, usually one part at a fixed interest rate and the other at a variable interest rateYesMinimum $15,000 Interest Only payments The borrower elects to make repayments covering the interest charged only and not on the principal. The interest only period is usually limited to a maximum of 5 or 10 years depending on the home loan type and term selected by the customerYes 1 to 5 year and 10 year4 option Interest Capitalisation The act of adding any interest charged, and not repaid, onto the loan (the capital). Interest is then calculated on this new 'capitalised' amountNo Weekly/Fortnightly/Monthly Payments Weekly: Yes Fortnightly: Yes Monthly: Yes Extra payments Yes- no minimum Deposit methods6Direct debit, Salary Credit, BPAY® and myRAMS Loan fixing No - at origination Yes - post settlement Fee- $295 Loan switching You can 'switch' your loan's variable interest rate to a fixed interest rate (subject to the terms and conditions of the loan)Convert to any Full Doc loan any time. Conversion Fee - $295 Repayment Holiday If you've built up enough of a buffer on your home loan through making extra repayments you can take a temporary 'repayment holiday' until such time as you are no longer in front in your loan repaymentsYes Debit card10 & chequebook A debit card gives you access to the available redraw in your home loan via ATMs or Bank@PostNo Limited Genuine Savings Option No Value Advantage Package Eligibility No ATM11/EFTPOS & cheque access free transactions NoN/A Statement frequency Every 6 months RAMS Risk fee Payable by Customer LVR >80% or >$1.5mLVR >70% and $1.5m<=$3.5mLVR >60% and >$3.5m Capitalisation of Risk Fee up to Lender's Mortgage Insurance (RAMS Risk Fee) can be added to the total loan amount up to the maximum loan to value ratio97% Application fee Fees charged to cover or partially cover the lender's costs of processing a loan approval for a home buyer$595 Valuation fee First valuation is free! $150 for each additional valuation. Account keeping feeNil, $20 per month 13 or $240 per annum 13 Discharge fee $295 per loan (plus legal costs) Loan settlement fee $275 Deposit Bond Arrange a deposit without touching your savings Obtaining a Deposit Bond through RAMS could help you secure your dream home by providing you with an alternative to finding a cash deposit before settlement. A Deposit Bond acts as a guarantee to the vendor, allowing the purchaser to pay the deposit amount (together with the balance of the purchase price) on the day of settlement (rather than funding a deposit up front/on exchange). In addition, a deposit bond could also save you the costs of obtaining bridging finance in order to pay your deposit. More details Fast Track Buy your first home sooner and save on mortgage insurance The support of family is priceless and when they’re happy to act as guarantors on your property purchase, they could help you buy your home quicker than you thought and save you thousands in mortgage insurance. More details Construction Option8 Looking to build or renovate? For customers who intend to purchase land and build a new home, RAMS has developed a feature called 'RAMS Construction Option' which can be adopted on many RAMS full and low doc home loans. More details Lifestyle Option Defer your home loan repayments for up to 6 months Life is full of challenges. Some are welcome and others are more of a surprise. Either way, you may need extra support to get through any such challenging times.RAMS Lifestyle Option allows you to defer repayments on your loan for up to 6 months – twice during the life of the loan. It’s our way of helping out. Conditions and fees apply so talk to a RAMS Home Loan Specialist to see how we can help. More details Bridging Loan Bridge the gap between your old and new property RAMS Bridging Option could be just what you need to assist with the purchase of a new property whilst you’re in the process of selling an existing property. It eases the strain of purchasing your new property by bridging the finance gap whilst you wait to receive proceeds from the sale of your existing property. More details Hypothetical scenario Marcus was looking to upgrade and buy a larger home. He found a two bedroom renovated house and had a deposit of 5% of the purchase price of the new property. Marcus wanted a loan that allowed him to increase his repayments when he could, give him some flexibility and above all, he wanted a low competitive rate. He didn’t mind taking a variable rate, but wanted to keep his options open in case rates looked like rising. The RAMS solution Marcus shopped around and found RAMS offered a competitive variable rate. When he spoke to a RAMS Home Loans Specialist, they pointed out the RAMS Low Rate Home Loan offered great flexible features and that he could fix the rate on all, or part, of his loan if he felt rates could rise. Save or share Print Email Bookmark Share You might also consider... Fixed Rate Home Loan The easy way to fix your loan Interest rate p.a. 6.19% A nominal interest rate incorporating certain fees and charges to help consumers identify and compare the true cost of a home loan Comparison rate 7.44% Compare Full Feature Home Loan All you'll ever need in a home loan Interest rate p.a. 6.96% A nominal interest rate incorporating certain fees and charges to help consumers identify and compare the true cost of a home loan Comparison rate 7.03% Compare Low Rate Home Loan No fuss, no frills, low rate Interest rate p.a. 6.15% with introperiod A nominal interest rate incorporating certain fees and charges to help consumers identify and compare the true cost of a home loan Comparison rate 6.47% Compare Talk to us to find out more Meet with a home loan expert Have us call you Frequently asked questions How do I apply for a loan?Am I eligible for a RAMS home loan?How do I claim a First Home Owners' Grant?How much deposit do I need?How much Stamp Duty can I expect to pay? Why Choose RAMS? Great rates Award winning Leading Australian Non-Bank lender Real choice and better value DISCLAIMER: New loans only. Fees, charges, conditions and limitations apply. Subject to RAMS normal lending criteria. Warning: This comparison rate is true only for examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. 1. Maximum 95% LVR on purchase price (or valuation if lower). If LVR>85%, evidence of 5% genuine savings required (excludes Limited Genuine Savings). Ability to cover transaction costs and funds to complete purchase, if any, required. Subject to loan serviceability. 2. If LVR >90%, applicant must hold 10% equity in other residential real estate or income earning investments and subject to loan serviceability. 3. Value Advantage Package available on selected loans for customer with total RAMS borrowings of $150,000 or more. Refer to the Value Advantage Package Brochure for Terms and Conditions. 4. 10 year IO option available for investment purposes only. 6. BPAY® available for extra repayments only, not scheduled loan repayments. ® Registered to BPAY Pty Ltd ABN 69 079 137 518. 8. First Drawdown must occur within 6 months of settlement with the loan totally drawn down within 12 months. 10. Debit Card not available to Company Borrowers. 11. Free ATM Transactions relate to Westpac, St.George, Bankof Melbourne & BankSA branded ATMs only. Other Institutions may charge a fee for use of their ATMs, payable in addition to fee for transactions over free threshold. Direct charging fee payable to owner of ATM when you use a non Westpac, St.George, Bank of Melbourne & BankSA branded ATM.13. A $20 per month or $240 per annum account servicing fee applies if selecting the 3 year introductory interest rate option.
This is an introductory variable rate, available for the first 3 years, after which, the rate will revert to the undiscounted rate. Introductory rate optionNo fee rate option Interest rate p.a. 6.15% 6.30% Comparison rate* p.a. A nominal interest rate incorporating certain fees and charges to help consumers identify and compare the true cost of a home loan6.47% 6.37% Minimum loan size Minimum loan size to be borrowed$15,000 $15,000 Maximum loan size Maximum loan size to be borrowedNo maximum Owner Occupier Max LVR The maximum loan to value ratio ("LVR") means the amount you can borrow expressed as a percentage of the security (property) value. For example, 90% LVR means you can borrow up to 90% of the value of the property (Refer Credit Guidlines for full details) 95%1 Investor Max LVR The maximum loan to value ratio ("LVR") means the amount you can borrow expressed as a percentage of the security (property) value. For example, 90% LVR means you can borrow up to 90% of the value of the property (Refer Credit Guidlines for full details) 95%2 Redraw A redraw facility allows you access to the available funds (if any) in your home loanYesNo minimum Loan Splitting Splitting the loan into two (or more) accounts, usually one part at a fixed interest rate and the other at a variable interest rateYesMinimum $15,000 Interest Only payments The borrower elects to make repayments covering the interest charged only and not on the principal. The interest only period is usually limited to a maximum of 5 or 10 years depending on the home loan type and term selected by the customerYes 1 to 5 year and 10 year4 option Interest Capitalisation The act of adding any interest charged, and not repaid, onto the loan (the capital). Interest is then calculated on this new 'capitalised' amountNo Weekly/Fortnightly/Monthly Payments Weekly: Yes Fortnightly: Yes Monthly: Yes Extra payments Yes- no minimum Deposit methods6Direct debit, Salary Credit, BPAY® and myRAMS Loan fixing No - at origination Yes - post settlement Fee- $295 Loan switching You can 'switch' your loan's variable interest rate to a fixed interest rate (subject to the terms and conditions of the loan)Convert to any Full Doc loan any time. Conversion Fee - $295 Repayment Holiday If you've built up enough of a buffer on your home loan through making extra repayments you can take a temporary 'repayment holiday' until such time as you are no longer in front in your loan repaymentsYes Debit card10 & chequebook A debit card gives you access to the available redraw in your home loan via ATMs or Bank@PostNo Limited Genuine Savings Option No Value Advantage Package Eligibility No ATM11/EFTPOS & cheque access free transactions NoN/A Statement frequency Every 6 months RAMS Risk fee Payable by Customer LVR >80% or >$1.5mLVR >70% and $1.5m<=$3.5mLVR >60% and >$3.5m Capitalisation of Risk Fee up to Lender's Mortgage Insurance (RAMS Risk Fee) can be added to the total loan amount up to the maximum loan to value ratio97%
Introductory rate optionNo fee rate option Interest rate p.a. 6.15% 6.30% Comparison rate* p.a. A nominal interest rate incorporating certain fees and charges to help consumers identify and compare the true cost of a home loan6.47% 6.37% Minimum loan size Minimum loan size to be borrowed$15,000 $15,000 Maximum loan size Maximum loan size to be borrowedNo maximum Owner Occupier Max LVR The maximum loan to value ratio ("LVR") means the amount you can borrow expressed as a percentage of the security (property) value. For example, 90% LVR means you can borrow up to 90% of the value of the property (Refer Credit Guidlines for full details) 95%1 Investor Max LVR The maximum loan to value ratio ("LVR") means the amount you can borrow expressed as a percentage of the security (property) value. For example, 90% LVR means you can borrow up to 90% of the value of the property (Refer Credit Guidlines for full details) 95%2 Redraw A redraw facility allows you access to the available funds (if any) in your home loanYesNo minimum Loan Splitting Splitting the loan into two (or more) accounts, usually one part at a fixed interest rate and the other at a variable interest rateYesMinimum $15,000 Interest Only payments The borrower elects to make repayments covering the interest charged only and not on the principal. The interest only period is usually limited to a maximum of 5 or 10 years depending on the home loan type and term selected by the customerYes 1 to 5 year and 10 year4 option Interest Capitalisation The act of adding any interest charged, and not repaid, onto the loan (the capital). Interest is then calculated on this new 'capitalised' amountNo Weekly/Fortnightly/Monthly Payments Weekly: Yes Fortnightly: Yes Monthly: Yes Extra payments Yes- no minimum Deposit methods6Direct debit, Salary Credit, BPAY® and myRAMS Loan fixing No - at origination Yes - post settlement Fee- $295 Loan switching You can 'switch' your loan's variable interest rate to a fixed interest rate (subject to the terms and conditions of the loan)Convert to any Full Doc loan any time. Conversion Fee - $295 Repayment Holiday If you've built up enough of a buffer on your home loan through making extra repayments you can take a temporary 'repayment holiday' until such time as you are no longer in front in your loan repaymentsYes Debit card10 & chequebook A debit card gives you access to the available redraw in your home loan via ATMs or Bank@PostNo Limited Genuine Savings Option No Value Advantage Package Eligibility No ATM11/EFTPOS & cheque access free transactions NoN/A Statement frequency Every 6 months RAMS Risk fee Payable by Customer LVR >80% or >$1.5mLVR >70% and $1.5m<=$3.5mLVR >60% and >$3.5m Capitalisation of Risk Fee up to Lender's Mortgage Insurance (RAMS Risk Fee) can be added to the total loan amount up to the maximum loan to value ratio97%
Application fee Fees charged to cover or partially cover the lender's costs of processing a loan approval for a home buyer$595 Valuation fee First valuation is free! $150 for each additional valuation. Account keeping feeNil, $20 per month 13 or $240 per annum 13 Discharge fee $295 per loan (plus legal costs) Loan settlement fee $275
Application fee Fees charged to cover or partially cover the lender's costs of processing a loan approval for a home buyer$595 Valuation fee First valuation is free! $150 for each additional valuation. Account keeping feeNil, $20 per month 13 or $240 per annum 13 Discharge fee $295 per loan (plus legal costs) Loan settlement fee $275
Deposit Bond Arrange a deposit without touching your savings Obtaining a Deposit Bond through RAMS could help you secure your dream home by providing you with an alternative to finding a cash deposit before settlement. A Deposit Bond acts as a guarantee to the vendor, allowing the purchaser to pay the deposit amount (together with the balance of the purchase price) on the day of settlement (rather than funding a deposit up front/on exchange). In addition, a deposit bond could also save you the costs of obtaining bridging finance in order to pay your deposit. More details Fast Track Buy your first home sooner and save on mortgage insurance The support of family is priceless and when they’re happy to act as guarantors on your property purchase, they could help you buy your home quicker than you thought and save you thousands in mortgage insurance. More details Construction Option8 Looking to build or renovate? For customers who intend to purchase land and build a new home, RAMS has developed a feature called 'RAMS Construction Option' which can be adopted on many RAMS full and low doc home loans. More details Lifestyle Option Defer your home loan repayments for up to 6 months Life is full of challenges. Some are welcome and others are more of a surprise. Either way, you may need extra support to get through any such challenging times.RAMS Lifestyle Option allows you to defer repayments on your loan for up to 6 months – twice during the life of the loan. It’s our way of helping out. Conditions and fees apply so talk to a RAMS Home Loan Specialist to see how we can help. More details Bridging Loan Bridge the gap between your old and new property RAMS Bridging Option could be just what you need to assist with the purchase of a new property whilst you’re in the process of selling an existing property. It eases the strain of purchasing your new property by bridging the finance gap whilst you wait to receive proceeds from the sale of your existing property. More details
Deposit Bond Arrange a deposit without touching your savings Obtaining a Deposit Bond through RAMS could help you secure your dream home by providing you with an alternative to finding a cash deposit before settlement. A Deposit Bond acts as a guarantee to the vendor, allowing the purchaser to pay the deposit amount (together with the balance of the purchase price) on the day of settlement (rather than funding a deposit up front/on exchange). In addition, a deposit bond could also save you the costs of obtaining bridging finance in order to pay your deposit. More details Fast Track Buy your first home sooner and save on mortgage insurance The support of family is priceless and when they’re happy to act as guarantors on your property purchase, they could help you buy your home quicker than you thought and save you thousands in mortgage insurance. More details Construction Option8 Looking to build or renovate? For customers who intend to purchase land and build a new home, RAMS has developed a feature called 'RAMS Construction Option' which can be adopted on many RAMS full and low doc home loans. More details Lifestyle Option Defer your home loan repayments for up to 6 months Life is full of challenges. Some are welcome and others are more of a surprise. Either way, you may need extra support to get through any such challenging times.RAMS Lifestyle Option allows you to defer repayments on your loan for up to 6 months – twice during the life of the loan. It’s our way of helping out. Conditions and fees apply so talk to a RAMS Home Loan Specialist to see how we can help. More details Bridging Loan Bridge the gap between your old and new property RAMS Bridging Option could be just what you need to assist with the purchase of a new property whilst you’re in the process of selling an existing property. It eases the strain of purchasing your new property by bridging the finance gap whilst you wait to receive proceeds from the sale of your existing property. More details
Hypothetical scenario Marcus was looking to upgrade and buy a larger home. He found a two bedroom renovated house and had a deposit of 5% of the purchase price of the new property. Marcus wanted a loan that allowed him to increase his repayments when he could, give him some flexibility and above all, he wanted a low competitive rate. He didn’t mind taking a variable rate, but wanted to keep his options open in case rates looked like rising. The RAMS solution Marcus shopped around and found RAMS offered a competitive variable rate. When he spoke to a RAMS Home Loans Specialist, they pointed out the RAMS Low Rate Home Loan offered great flexible features and that he could fix the rate on all, or part, of his loan if he felt rates could rise.