Following Reserve Bank of Australia’s decision to increase the cash rate by 0.50%. RAMS will increase home loan variable interest rates by 0.50% for new and existing customers effective 18 Aug 2022
  • Whether a first-time buyer or self-employed, a RAMS home loan has flexible options to make the loan work better for you.

  • Construction option

    Progressive interest only payments during construction can help cash flow 

    • Ideal for: People building their own home,and renovators

      As a new home takes shape (or major renovations to an existing property progress), various stages of construction mark major milestones. To maintain cash flow for the builder and keep the project’s funding on track, we’ve developed the RAMS Construction Option.

      It allows a progress payment to be made directly to the builder as each deliverable is met - slab, roof, lock-up and completion. This way interest is only charged on the funds as they are drawn down.

      Please note: RAMS Construction option is not available to owner builders, developers, display or spec homes and refinancing partly completed construction loans.

      Key features

      • Maximum LVR for full-doc loan is 95% 1 (or valuation if lower). Lenders Mortgage insurance will apply.
      • Allows refinance of an existing land loan from another loan provider to construct a dwelling
      • Loan repayments are interest only during construction, which may provide potential cash flow benefits
      • RAMS has no set time for construction commencement after land settlement, thus providing a great deal of flexibility
      • 'At Completion' valuation carried out at no cost to you.
      • One year fixed rate option available.

      Process and costs explained

      • You can’t begin construction until RAMS has issued an ‘Authority to Commence Construction’ certificate
      • Your own funds, if any, must be contributed prior to the first progress payment being made.
      • Note: if a builder requires funds upfront to issue plans, you’ll need to cover that cost from your own funds as well.
      • RAMS will not release any funds until each stage of the construction has been completed
      • The final progress payment will be subject to an ‘At completion’ valuation, Certificate of Occupancy and certificate of currency of a comprehensive building insurance policy.

      Documents needed

      Before an ‘Authority to Commence Construction’ is issued, you’ll need to provide us with copies or evidence of:

      • Council approved plans and building specifications
      • Fixed price building contract with a licensed builder (signed and dated)
      • Builders risk insurance (or builders public liability insurance);
      • Homeowners’ warranty insurance (if applicable).

      Useful checklists and guides for construction loans

      RAMS Construction How-to Guide - your guide to building your dream home

      RAMS Construction loan - required documents and key points

      RAMS Construction -  10 step guide to building your first home



    • Full feature home loan

      An all-in-one home loan with a transaction account, redraw option and ability to deposit salary stra...

      Fixed Rate Home Loan (Packaged)

      RAMS fixed rate home loan has protects you against rate changes during the loan period.

      Essential home loan

      A simple, clear to understand home loan to help you with one of the biggest purchases in life.

    • Hypothetical scenario

      Julie and Tristan lead very busy inner-city lives like a lot of professional couples. Some years ago (while renting in the city) they bought a run-down (but perfectly liveable) house on a good block of land in the north-western metropolitan suburbs as an investment, knowing that planned railway expansion would make it a great family location for city commuters.

      Their intention was to knock down and rebuild ‘someday’ when their own ‘family’ plans started taking shape.

      Well, that time had come. 

      While looking at various display homes and talking to builders and architects, Julie and Tristan realised they needed to first consult their home loan provider about finance before they could even think about deciding on the construction process. 

      They calculated they would need around $250,000 to cover the design and building costs. The original plot had cost around the same amount and they knew the end product would be very attractive, particularly in light of its accessibility to the city given the soon to be completed rail links.

      The RAMS solution

      Julie and Tristan spoke to a few home loan providers but found RAMS was the most flexible. 

      The flexible, progress payment feature, as well as the interest-only repayments during construction, meant they could minimise their repayments during the construction period

      Knowing how much they could borrow, Julie and Tristan then started to confirm quotes and signed up their builder to manage the project. 

      So with finance ‘out of the way’, they were able to focus on the fun stuff; the colour scheme, furniture, decorating options, fixtures, appliances and that all-important nursery.

  • Home loan calculators

    How much could I borrow?

    Excludes super, packaging or Fringe Benefits as well as bonuses, overtime and share options.
    Rent you're receiving now / expect to receive.
    Like dividends, bonuses, loadings, packaging or other Fringe Benefits – excludes salary and super.
    e.g. $15k credit limit + $5k overdraft = $20k
    Repayments on the home you live in, if none leave blank.
    Repayments on all your investment properties, if none leave blank.
    e.g for a holiday

    Please enter a valid postcode

    You could borrow up to

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    at an interest rate of {{[0].interestRate.ongoing.percent }} % p.a.

    Call us on 13 RAMS, thats 13 7267 about your situation to find the best solution for you.

    How much could my repayments be?

    % p.a.

    Based on the amount you want to borrow, an estimate of your minimum repayments is

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    Interest only repayments in the first {{[0].loanPeriod.interestOnly }} years

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    and, principal and interest repayments for the remainder of the life of the loan

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    Call us on 13 RAMS, thats 13 7267 about your situation to find the best solution for you.

    You would save

    You would pay an extra

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    in interest over the life of the loan

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    What are the upfront costs and ongoing?


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    Your estimated upfront costs would be

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    Your estimated ongoing costs would be

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    Upfront costs

    Government fees

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    $ {{[0].calculators.upfrontCosts.government.stampDuty | roundup | number : 0 }}

    $ {{[0].calculators.upfrontCosts.government.mortgageDuty | roundup | number : 0}}

    Government grants

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    If you are building new home and the total value of land and building is up to $750,000 then you may be eligible for First Home Owner Grant. Please refer to Office of State Revenue website for further details.

    The First Home Owner grant is based on assumption that the total value of land and building is less than or equal to $750,000.

    RAMS fees

    $285 Loan settlement fee and $595 Application fee waived for RAMS Full Feature, Fixed Rate and Line of Credit home loans with a Value Advantage Package ($149 p.a.) - ie those two fees are $0.

    RAMS Essential and Fixed Rate Classic home loans are not eligible for a Value Advantage Package.

    Lender's Mortgage Insurance

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    Other upfront costs to consider

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    Ongoing costs


    $ {{[0].calculators.ongoingCosts.repayments | number : 0}}/month

    Assuming a {{[0].loanPeriod.initial }} year loan term on RAMS Essential Home Loan with a variable interest rate of {{ ([0].calculators.upfrontCosts.residencyType == 0) ?[0].interestRate.ongoing.percent :[0].interestRate.ongoingInvestor.percent }}% p.a., comparison rate* of {{ ([0].calculators.upfrontCosts.residencyType == 0) ?[0].interestRate.comparison.percent :[0].interestRate.comparisonInvestor.percent }}% p.a. and $0 account keeping fee.

    If you wish to calculate your estimated monthly repayments using a different interest rate, please use our How much could my repayments be calculator.

    RAMS fees

    RAMS Full Feature, Fixed Rate and Line of Credit home loans are eligible for a Value Advantage Package ($149 p.a.). (Please note: Whilst the Package Fee is paid annually, 1/12th of the annual fee is included in “Your estimated ongoing costs” above)

    RAMS Essential home loans have no Account Keeping Fees and are not eligible for a Value Advantage Package (ie those fees are $0).

    Some other ongoing costs to consider

    $ {{ ([0].calculators.ongoingCosts.strata.value != '') ? ([0].calculators.ongoingCosts.strata.value | number: 0) : '        ' }} /month

    $ {{ ([0].calculators.ongoingCosts.council.value != '') ? ([0].calculators.ongoingCosts.council.value | number: 0) : '        ' }} /month

    $ {{ ([0].calculators.ongoingCosts.utility.value != '') ? ([0].calculators.ongoingCosts.utility.value | number: 0) : '        ' }} /month

    $ {{ ([0].calculators.ongoingCosts.homeContentInsurance.value != '') ? ([0].calculators.ongoingCosts.homeContentInsurance.value | number: 0) : '        ' }} /month

  • Construction calculator


    Calculating your build cost

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    Your estimated build cost could be

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    This is a very high level build cost estimate only. This does not consider the unknown costs such as site cost, landscaping, fencing etc. which may differ from property to property.
    This is an estimate of an amount you may be able to borrow, based on the information and interest rate you input. If you change any of the information, including the interest rate, you will obtain a different result. The result does not include any applicable fees. This is not an offer of credit, and you should not rely on it. Any amount you may be able to borrow can only be determined once you submit a full application to us and we assess your application using our credit criteria applicable at that time. The application process considers more information than you have input here, and so any amount you may be able to borrow may differ from this estimate. This estimates is indicative only and actual costs and the amount you could borrow may vary based on a number of factors including loan purpose. Before acting on the results of this estimation you should seek professional advice and contact your local RAMS Home Loan Specialist. Credit criteria, fees, charges, terms, conditions and eligibility requirements apply. RAMS home loans are not available for foreign borrowers residing outside Australia. *Suitable for residential properties, other than strata titles. DISCLAIMER: The Cordell Sum Sure calculator takes the answers you input (or confirm, as applicable) and analyses them against construction industry data collated by CoreLogic to generate an estimated rebuild cost of the improvements on your property. Use of the Cordell Sum Sure calculator and any estimated rebuild cost provided by it may not be appropriate for you and you will need to assess the suitability of this estimate given your knowledge of your property. A number of qualifications apply to the estimated rebuild cost, which are set out in the full set of terms and conditions accepted by you prior to your use of the Cordell Sum Sure Calculator.
  • Blogs and videos for building your own home

    Building your own home means you're likely eligible for a few government rebates, but does that equate to savings overall?
    If you’re looking to buy land to build a new home, the good news is there’s plenty of new land developments around most of our major cities.
    Older suburbs across Australia are getting an injection of new life thanks to creative property developments.  

    15% deposit funds to cover transactional costs and Lender's Mortgage Insurance premium required. Not available on some property types or locations, nature of savings held, and other conditions apply.