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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
Self-Employed Low Doc Fixed Rate Home LoanFixed rate loans for the self-employed Meet with a home loan expert Have us call you Interest rate p.a. 6.19% 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 7.62% Ideal for: Self-employed Simple application process – we make it easy for the self-employed Wide range of fixed rate periods – 1, 2, 3, 4, 5 and 10 year period Same competitive interest rates as available on full doc loans Deposit up to an additional $25,000 over the life of the fixed rate period Redraw your additional repayments when you need it. Details Fees Flexible Features Scenario 1 Yr 2 Yr 3 Yr 4 Yr 5 Yr 10 Yr Interest rate p.a. 6.19% 5.99% 5.99% 6.59% 6.75% 7.29% 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 loan7.62% 7.45% 7.31% 7.42% 7.42% 7.61% Minimum loan size Minimum loan size to be borrowed$15,000 Maximum loan size Maximum loan size to be borrowed$1,500,000 if LVR equal to or less than 60% $1,000,000 if LVR is ovder 60% 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) 80% 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) 80% Redraw A redraw facility allows you access to the available funds (if any) in your home loanYesMinimum of $1,000 per redraw $10 per redraw 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 of $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 customerYes1 to 5 year fixed rates and the 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' amountYes Weekly/Fortnightly/Monthly Payments Weekly: Yes Fortnightly: Yes Monthly: Yes Extra payments Up to a total of $25,000 for the fixed rate period Deposit methods6Direct debit, Salary Credit, BPAY®, myRAMS Loan fixing Yes - At origination No - Post settlement Fixed Rate Lock-in Fee7: of 0.15% of the Credit Limit available at application 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)Fixed Rate at settlement automatically converts to a a Self-Employed Low Doc Home Loan 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@PostYes Limited Genuine Savings Option No Value Advantage Package Eligibility Yes ATM11/EFTPOS & cheque access free transactions NoNot applicable Statement frequency Every six months RAMS Risk fee Payable by Customer LVR >60% 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 ratio80%12 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 fee$20 per month Discharge fee $295 per loan Loan settlement fee $275 Value Advantage Package Take out a RAMS Value Advantage Package and save $$$ each year Take out a RAMS Value Advantage Package, and save $$$ each year with a discount on your home loan interest rate. 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 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 Interest Only in Advance Option5 A discounted rate & potential tax benefits Investors need flexible options to make tax-effective decisions. RAMS Interest Only In Advance Option allows property investors with fixed rate loan to prepay 12 months interest and receive a discount off the fixed interest rate.The Interest Only In Advance Option is available to property investors with a RAMS fixed rate home loan term of up to 5 years, and where interest-only repayments have been chosen. More details Hypothetical scenario Kathryn is self-employed and her business has been growing. After talking to her accountant and financial planner, Kathryn wanted to invest in some property. Between her savings and using some of the equity she has in her own home, she decided to look for a unit around $400,000 in price. She has the money for a 20% deposit and can cover her transaction costs. Kathryn is concerned about future interest rate rises and would like the certainty of fixed repayments at a competitive rate. And she didn’t want the frustration of a long application process, just because she was self-employed. The RAMS solution After speaking to RAMS, Kathryn chose the RAMS Self-Employed Low Doc Fixed Rate Home Loan. Kathryn could borrow up to 80% of the purchase price and refinance her existing loan to free up some equity for the transaction costs, and still keep her repayments under control. Being self-employed, Kathryn liked the ability to make extra repayments to reduce her loan faster and to redraw in case her cash flow slowed. By choosing a fixed rate period of five years, Kathryn knew what her repayments were. And most of all, she liked how easy and stress free it was to apply, so she could start looking at properties sooner. Save or share Print Email Bookmark Share You might also consider... Self-Employed Low Doc Fixed Rate Home Loan Fixed rate loans for the self-employed 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 7.62% Compare Self-Employed Low Doc Home Loan Working harder for the self-employed Interest rate p.a. 7.16% 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 Self-Employed Low Doc Line of Credit Unlock your equity Interest rate p.a. 7.21% A nominal interest rate incorporating certain fees and charges to help consumers identify and compare the true cost of a home loan Comparison rate n/a 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?What documentation do I need to provide?What is a Low Doc loan?Am I eligible for a RAMS home loan?I'm self-employed. Can I borrow from RAMS? 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. 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. 5. Interest Only in Advance: Option available for investment only, with a fixed rate interest term of up to 5 years, and where interest only repayments have been chosen.For selected discounts, refer to Lending Rates at a Glance. 7. Lock In Fee Rules: For a Single Drawdown Loan, Lock In is applicable for up to 90 days from the date the application is received by RAMS Origination. 8. First Drawdown must occur within 6 months of settlement with the loan totally drawn down within 12 months. 12. Capitalisation of RAMS Risk fee is not available when Interest Only in Advance Option is chosen.
1 Yr 2 Yr 3 Yr 4 Yr 5 Yr 10 Yr Interest rate p.a. 6.19% 5.99% 5.99% 6.59% 6.75% 7.29% 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 loan7.62% 7.45% 7.31% 7.42% 7.42% 7.61% Minimum loan size Minimum loan size to be borrowed$15,000 Maximum loan size Maximum loan size to be borrowed$1,500,000 if LVR equal to or less than 60% $1,000,000 if LVR is ovder 60% 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) 80% 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) 80% Redraw A redraw facility allows you access to the available funds (if any) in your home loanYesMinimum of $1,000 per redraw $10 per redraw 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 of $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 customerYes1 to 5 year fixed rates and the 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' amountYes Weekly/Fortnightly/Monthly Payments Weekly: Yes Fortnightly: Yes Monthly: Yes Extra payments Up to a total of $25,000 for the fixed rate period Deposit methods6Direct debit, Salary Credit, BPAY®, myRAMS Loan fixing Yes - At origination No - Post settlement Fixed Rate Lock-in Fee7: of 0.15% of the Credit Limit available at application 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)Fixed Rate at settlement automatically converts to a a Self-Employed Low Doc Home Loan 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@PostYes Limited Genuine Savings Option No Value Advantage Package Eligibility Yes ATM11/EFTPOS & cheque access free transactions NoNot applicable Statement frequency Every six months RAMS Risk fee Payable by Customer LVR >60% 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 ratio80%12
1 Yr 2 Yr 3 Yr 4 Yr 5 Yr 10 Yr Interest rate p.a. 6.19% 5.99% 5.99% 6.59% 6.75% 7.29% 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 loan7.62% 7.45% 7.31% 7.42% 7.42% 7.61% Minimum loan size Minimum loan size to be borrowed$15,000 Maximum loan size Maximum loan size to be borrowed$1,500,000 if LVR equal to or less than 60% $1,000,000 if LVR is ovder 60% 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) 80% 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) 80% Redraw A redraw facility allows you access to the available funds (if any) in your home loanYesMinimum of $1,000 per redraw $10 per redraw 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 of $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 customerYes1 to 5 year fixed rates and the 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' amountYes Weekly/Fortnightly/Monthly Payments Weekly: Yes Fortnightly: Yes Monthly: Yes Extra payments Up to a total of $25,000 for the fixed rate period Deposit methods6Direct debit, Salary Credit, BPAY®, myRAMS Loan fixing Yes - At origination No - Post settlement Fixed Rate Lock-in Fee7: of 0.15% of the Credit Limit available at application 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)Fixed Rate at settlement automatically converts to a a Self-Employed Low Doc Home Loan 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@PostYes Limited Genuine Savings Option No Value Advantage Package Eligibility Yes ATM11/EFTPOS & cheque access free transactions NoNot applicable Statement frequency Every six months RAMS Risk fee Payable by Customer LVR >60% 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 ratio80%12
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 fee$20 per month Discharge fee $295 per loan 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 fee$20 per month Discharge fee $295 per loan Loan settlement fee $275
Value Advantage Package Take out a RAMS Value Advantage Package and save $$$ each year Take out a RAMS Value Advantage Package, and save $$$ each year with a discount on your home loan interest rate. 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 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 Interest Only in Advance Option5 A discounted rate & potential tax benefits Investors need flexible options to make tax-effective decisions. RAMS Interest Only In Advance Option allows property investors with fixed rate loan to prepay 12 months interest and receive a discount off the fixed interest rate.The Interest Only In Advance Option is available to property investors with a RAMS fixed rate home loan term of up to 5 years, and where interest-only repayments have been chosen. More details
Value Advantage Package Take out a RAMS Value Advantage Package and save $$$ each year Take out a RAMS Value Advantage Package, and save $$$ each year with a discount on your home loan interest rate. 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 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 Interest Only in Advance Option5 A discounted rate & potential tax benefits Investors need flexible options to make tax-effective decisions. RAMS Interest Only In Advance Option allows property investors with fixed rate loan to prepay 12 months interest and receive a discount off the fixed interest rate.The Interest Only In Advance Option is available to property investors with a RAMS fixed rate home loan term of up to 5 years, and where interest-only repayments have been chosen. More details
Hypothetical scenario Kathryn is self-employed and her business has been growing. After talking to her accountant and financial planner, Kathryn wanted to invest in some property. Between her savings and using some of the equity she has in her own home, she decided to look for a unit around $400,000 in price. She has the money for a 20% deposit and can cover her transaction costs. Kathryn is concerned about future interest rate rises and would like the certainty of fixed repayments at a competitive rate. And she didn’t want the frustration of a long application process, just because she was self-employed. The RAMS solution After speaking to RAMS, Kathryn chose the RAMS Self-Employed Low Doc Fixed Rate Home Loan. Kathryn could borrow up to 80% of the purchase price and refinance her existing loan to free up some equity for the transaction costs, and still keep her repayments under control. Being self-employed, Kathryn liked the ability to make extra repayments to reduce her loan faster and to redraw in case her cash flow slowed. By choosing a fixed rate period of five years, Kathryn knew what her repayments were. And most of all, she liked how easy and stress free it was to apply, so she could start looking at properties sooner.