Skip to main

Essential home loan

A simple, flexible, variable home loan. That’s Essential.

Why choose an Essential Home Loan?

A RAMS Essential Home Loan gives you flexibility and takes away the complexity. You can make unlimited extra repayments (whilst on a variable rate) with no fees and get mortgage free faster. Plus you’ll get a competitive rate.

When it comes to simple, our variable rate Essential Home Loan fits the bill. But simple doesn’t mean inflexible. 

  • Personal support and expertise from our home loan specialists who’ll help every step of the way.
  • Flexible features, like a construction option, so you can build or renovate and make interest only repayments during your build or renovation if you want to.
  • Or you can split your loan, some on a variable interest rate, some on a fixed rate, so whichever way the market moves, you’re covered.

All this, as well as the ability to make extra repayments and pay off your mortgage sooner.

You can also redraw your extra repayments if something unexpected comes up, so you’re never unprepared.

Key benefits

Additional repayments

Repay your way. Making unlimited additional repayments (whilst on variable rate) means you can pay off your loan faster and save on interest.

Redraw facility

If you need a little money back to cover something unexpected, you can redraw your extra repayments to cover it (minimum $1,000 whilst on a fixed rate term).

Low deposit

At RAMS, we want to help you get into your own home sooner. That’s why we’ll lend approved customers up to 95% of the purchase price#.

Interest Rates

Interest Rates tab selected, 1 of 2
Application feeFees charged to cover or partially cover the lender's costs of processing a loan approval for an applicant
Valuation feeFirst valuation is free!
Account keeping feeNil ($10 fixed rate servicing fee for fixed rate portions of the loan during the fixed rate period)
Discharge fee$295 per loan account (plus legal and other associated costs incurred by us)
Loan settlement fee$285

Flexible features

Construction Option

Make progress payments for your new home build or renovation and pay interest on only your drawn down loan amount during the initial construction period.

More details on Construction Option

Bridging Loan

You could still buy your new home even if you haven’t sold your old one yet. Welcome to a RAMS bridging loan.

More details on Bridging Loan

Homeowner scenario

Sarah has seen several of her friends finally buy their first home. Motivated by them taking the plunge, she is now ready to use her savings for a deposit to buy her dream home.

Through her search, she has found a two bedroom unit for just under $650,000 in the southern suburbs of Sydney – close to rail and bus connections – making for an easy commute into the city in less than 45 minutes.

She has a house deposit of 10% of the purchase price ready to go. As this is Sarah’s first home, she wasn’t looking for all the bells and whistles but does want a loan that allows early repayments if she comes across some extra funds. She doesn’t need an offset feature or the ability to reduce repayments while on parental leave. Above all, she is looking for a loan with a competitive rate and clear explanation of the fees involved with the loan.

RAMS says …

Through Sarah’s shopping around, she found that RAMS offered a competitive variable rate home loan.

When she spoke to a RAMS Home Loan Specialist, she learnt that the loan catered to all her basic needs to purchase her dream home and that she had the flexibility to pay extra and also redraw on the extra funds when, and if she needs to access it.

It was this flexibility; along with the expertise of the RAMS Home Loan Specialist that convinced Sarah that RAMS could help her with the purchase of her dream home. 

Our Home Loan Offers

Borrow up to 95% and shear up to $5,000 off your LMI

LMI offer

Borrow up to 95%*  and you could shear down your LMI to $1.  Save up to $20,000 for eligible first time buyers.  T&Cs apply.

Talk to us about financing your new home build

Check out all our home loan options

Looking at your options? Check out the full suite of RAMS home loans.

Speak to a home loan specialist

A RAMS Home Loan Specialist makes a difference

The right home loan for you

A RAMS home loan specialist will learn about you, and your circumstances, and then tailor just the right loan to suit you and your stage of life.

Smooth process

Our home loan specialists take the ‘hard’ out of the process for you. They’ll come to you, at a time and place that suits you and sort out approval in days, not weeks, wherever possible.

Personal service

You’ll have a dedicated ‘go to’ person from start to finish, so you’ll supply your personal information just once and not have to repeat it.  You’ll also have their mobile number, so whatever arises, you can get things sorted.

Home loan calculators

Use our handy home loan calculators below to estimate what you could afford to borrow, and what your repayments might be.


New loans only. Fees, conditions and lending criteria apply. Subject to RAMS normal lending criteria.

^myRAMS is not available to Companies and Trusts and is subject to systems availability.

#Up to 95% LVR on purchase price or valuation (if lower) and only available for full doc owner occupier borrowers making principal and interest repayments. If LVR > 85%, evidence of 5% genuine savings required.  Funds to cover transaction and establishment costs and lenders's mortgage insurance required.

1Maximum LVR of up to 95% on purchase price (or valuation if lower) for principal and interest (P&I) loans and interest only (IO) construction loans with an interest only period of 24 months. Maximum LVR of up to 80% on purchase price (or valuation if lower) for non-construction interest only loans or construction loans with an interest only period greater than 24 months. Funds to cover transaction costs required. Lenders mortgage insurance applies when LVR is >80%. If LVR >85%, evidence of 5% genuine savings required. Maximum LVRs are inclusive of any capitalised LMI.  

2Maximum LVR of up to 90% on purchase price (or valuation if lower) for loans with principal and interest (P&I) repayments. Maximum LVR of up to 90% on purchase price (or valuation if lower) for loans with interest only (IO) repayments and all construction loans. Funds to cover transaction costs required. Maximum LVRs are inclusive of any capitalisation of LMI.

310 year IO option available for investment purposes only.

4® Registered to BPAY Pty Ltd ABN 69 079 137 518.

5Not applicable on this product.

6Not applicable on this product.

7Switch to interest only repayments is not permitted in the first 12 months of the loan.

8Not applicable on this product.

9Not applicable on this product.

10The RAMS Risk Fee is charged because of the increased risk to us due to the high LVR. Whether a Lender's Mortgage Insurance premium or a RAMS Risk Fee is payable will depend on the individual application.

115% deposit and funds to cover transaction costs are also required. Not available on some property types, loan purposes or locations and other conditions apply.

12Not available for the purpose of owner occupied refinance, debt consolidation or equity release.