• First Time Buyer?
    You could shear up to
    $5k from your LMI.1

    Eligible first time buyers could reduce their Lender's Mortgage Insurance by up to $5,0001.

    Like most first time buyers, your first question might be: What is Lender's Mortgage Insurance (LMI)? Don’t worry, RAMS is here to answer all your questions and help you through the process. 

    What is Lender's Mortgage Insurance?

    Lender's Mortgage Insurance is an insurance that protects the lender when the borrower’s deposit is less than 20% of the purchase price of the property. Generally, you don’t need to pay this upfront as it will get added to your loan, however, this means it will add an incremental amount to your repayments and of course the interest you accrue on the loan. The LMI sum depends on a number of variables, including the loan amount and the deposit amount, so it can vary a lot.

    How does the LMI reduction help you into your home sooner?

    Buying your first home can be challenging. But RAMS is here to help! Whether you’ve been saving hard to reach 20% to avoid LMI or aiming for a lower deposit amount and have been concerned about LMI adding to your loan, our LMI offer could help you into your home sooner.  

    The details:

    This offer is available to First Time Buyers for new Owner Occupier and Investment loans on Principal and Interest repayments. The minimum loan size is $250k. LVR above 80% up to 95% at time of approval. T&C’s and exclusions apply1.

    Talk to your local RAMS Home Loan Specialist to find out whether you could benefit from this offer and how much you could save. Fill in the form below and your local specialist will give you a call to help.

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  • What our customers have to say

    • As a first home buyer, applying for a home loan seemed pretty scary and quite full on. But applying with RAMS was the best part.

      Jeni Beattie from RAMS Brisbane South East & Bayside walked us through the process step by step, and made the whole process seem so easy, and much less daunting. Without Jeni we probably would still be stuck at the beginning trying to find a way into buying our first home. 

      For other young couples wanting to buy their first home, I would definitely recommend going through RAMS.

      Vennessa Churchward
    • Amanda and the RAMS Redlands team were brilliant. We had such a fantastic experience for the purchase of our first home. Amanda and Bianca went above and beyond, answering the millions questions we had with kindness and patience. Amanda was also full of knowledge and she genuinely cared about helping us have the best experience possible.

      RAMS are efficient and quick, from the start of our application to progress payments to the builder. We will definitely recommend RAMS to any family and friends in the future.

      Tiffany Aukuso and Casey Wright
    • I approached RAMS after speaking to a few different lenders. I found their response from the initial email was quick, and followed up with a phone call to go through my situation. 

      Being a first home buyer I was very green to the process and Mark helped me every step of the way. Mark always kept me well informed, I found my experience to be a lot easier than I thought it would be. I would highly recommend RAMS in Castle Hill to anyone

      Les Sutherland

    SE award 4 years running jpg   Kids Cancer Project logo  

    RAMS proud winner of Best Self-Employed Lender
    for four years running in the 
    2017, 2018, 2019 and 2020 Australian Lending Awards.


    RAMS proudly supports
    The Kids' Cancer Project



  • More information:

    Terms, conditions and limitations apply. Credit criteria, fees and charges apply. Residential lending is not available for Non-Australian resident borrowers.

    1Offer available for eligible First Time Buyers approved for their first home loan with loan to value ratio (LVR) greater than 80% and up to 95% including LMI premium at time of formal approval. LVR stands for the initial loan to value ratio at loan approval. LVR is the amount of the customer’s loan compared to the Bank’s valuation of the property offered to secure the loan, expressed as a percentage. First Time Buyers are applicants ​applying for their first home loan for their first property. For joint applications, at least one applicant must be a First Time Buyer. Available on New Owner Occupier & Investment loans with Principal & Interest repayments. Not available on Interest Only repayments. Offer current as of 13 July 2020. Offer may be varied or withdrawn at any time. Min loan size of $250k. Max one security property per application. Excludes Line of Credit, Constructions Loans which remain on Interest Only repayments after completion of the initial Interest Only period, Land Only Loans, RAMS Fast Track home loans, company and trustee borrowers, refinances, and switches and refinances of home loans within the Westpac Group which includes RAMS, St. George, Westpac, Bank of Melbourne and BankSA. Offer not available in conjunction with RAMS New Purchase Buyer $1,000 Rebate offer. Lender’s Mortgage Insurance premium will be reduced for eligible customers up to a max of $5,000 with a premium of at least $1 payable for LMI by the customer. This will be reflected within the Home Loan Agreement. Where the LMI premium is more than $5,000, RAMS will pay $5,000 towards the premium. The balance of the LMI premium will be payable by the customer. LMI subject to approval and customer must adhere to LMI obligations during the loan agreement. Funds to cover transaction costs are required. This information does not take into account your personal circumstances.