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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 Line of CreditUnlock your equity Meet with a home loan expert Have us call you Interest rate p.a. 7.21% 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 n/a Ideal for: Self-employed Unlock the equity in your home to unleash the potential of your business Simple application process – we make it easy for the self-employed No regular repayment required if under your credit limit Interest charged only on the outstanding loan balance Easy access – use BPAY, debit card, cheque or Bank@Post to transact. Details Fees Flexible Features Scenario LVR < = 60%LVR > 60% Interest rate p.a. 6.96% 7.21% 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 loann/an/a 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 <= 60% $1,000,000 if LVR is > 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 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 customerYesNo minimum 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 Not required if under the credit limit Deposit methods6Direct debit, salary credit, BPAY, Bank@Post 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)First year: convert to any Low Doc product. After 2 years: convert to any product. 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@PostYes Limited Genuine Savings Option No Value Advantage Package Eligibility Yes ATM11/EFTPOS & cheque access free transactions Yes25 free transactions per month. After 25 transactions these fees apply: $2.00 for ATM, $0.65 for EFTPOS and $0.90 for cheques. Statement frequency Quarterly (monthly available) RAMS Risk fee Payable by Customer 60% >LVR 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% 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 Hypothetical scenario Stuart is self-employed and wants to build an investment property portfolio. He wants to borrow $160,000 to purchase his first property and wants another $50,000 available for a deposit on another investment property when the right one comes up. Stuart would like to manage all his investment property finances from one account. The RAMS solution Stuart took out a RAMS Self-Employed Low Doc Line of Credit Home Loan. He liked the interest rate and the approved credit limit of $210,000 even more. Stuart was able to draw down $160,000 immediately to purchase his first property, and he pays interest only on this amount, until he draws on the rest. As he is below his credit limit, he doesn’t have to worry about making regular repayments right now. 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. 6. BPAY® available for extra repayments only, not scheduled loan repayments. ® Registered to BPAY Pty Ltd ABN 69 079 137 518. 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.
LVR < = 60%LVR > 60% Interest rate p.a. 6.96% 7.21% 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 loann/an/a 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 <= 60% $1,000,000 if LVR is > 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 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 customerYesNo minimum 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 Not required if under the credit limit Deposit methods6Direct debit, salary credit, BPAY, Bank@Post 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)First year: convert to any Low Doc product. After 2 years: convert to any product. 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@PostYes Limited Genuine Savings Option No Value Advantage Package Eligibility Yes ATM11/EFTPOS & cheque access free transactions Yes25 free transactions per month. After 25 transactions these fees apply: $2.00 for ATM, $0.65 for EFTPOS and $0.90 for cheques. Statement frequency Quarterly (monthly available) RAMS Risk fee Payable by Customer 60% >LVR 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%
LVR < = 60%LVR > 60% Interest rate p.a. 6.96% 7.21% 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 loann/an/a 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 <= 60% $1,000,000 if LVR is > 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 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 customerYesNo minimum 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 Not required if under the credit limit Deposit methods6Direct debit, salary credit, BPAY, Bank@Post 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)First year: convert to any Low Doc product. After 2 years: convert to any product. 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@PostYes Limited Genuine Savings Option No Value Advantage Package Eligibility Yes ATM11/EFTPOS & cheque access free transactions Yes25 free transactions per month. After 25 transactions these fees apply: $2.00 for ATM, $0.65 for EFTPOS and $0.90 for cheques. Statement frequency Quarterly (monthly available) RAMS Risk fee Payable by Customer 60% >LVR 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%
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
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
Hypothetical scenario Stuart is self-employed and wants to build an investment property portfolio. He wants to borrow $160,000 to purchase his first property and wants another $50,000 available for a deposit on another investment property when the right one comes up. Stuart would like to manage all his investment property finances from one account. The RAMS solution Stuart took out a RAMS Self-Employed Low Doc Line of Credit Home Loan. He liked the interest rate and the approved credit limit of $210,000 even more. Stuart was able to draw down $160,000 immediately to purchase his first property, and he pays interest only on this amount, until he draws on the rest. As he is below his credit limit, he doesn’t have to worry about making regular repayments right now.