• Variable rate home loan for self-employed

    How RAMS helps self-employed with home loans

    Being self-employed should not be a barrier to securing a home loan just because you may not have the usual documentation. 

    At RAMS we've made it less onerous for the self-employed to qualify apply for a mortgage home loan by simplifying the application process and requiring less paperwork+ .

    RAMS were awarded 'Best Self-Employed Lender' at the 2017 Australian Lending Awards, which highlight mortgage lenders who provide exceptional products and services.

  • Three reasons to choose this loan


    Redraw with no minimum and no redraw fee


    Borrow up to 80% of the property value and pay no lender’s mortgage insurance (funds to cover transaction costs are required)


    Save even more with a discounted interest rate when initial LVR is 70% or less.

    • Interest rates - owner occupier (principal and interest)

      Interest rate p.a.

      Comparison rate* p.a.

      Without package LVR <=70% (Discounted)
      Without package LVR 70%-80%

      Interest rates - investor (principal and interest)

      Interest rate p.a.

      Comparison rate* p.a.

      Without package LVR <=70% (Discounted)
      Without package LVR 70%-80%

      *Please note: The comparison rate for the relevant product is based on a loan of $150,000 over a term of 25 years. 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.

    • Minimum loan size $15,000$15,000

      Maximum loan size

      $1,500,000 if LVR equal to or less than 70%$1,000,000 if LVR is over 70%

      Owner Occupier Max LVR

      (Refer Credit Guidlines for full details)


      Investor Max LVR

      (Refer Credit Guidlines for full details)



      No minimum

      Loan Splitting

      Minimum $15,000

      Interest Only payments

      1 to 5 year and 10 year3option

      Interest Capitalisation


      Weekly/Fortnightly/Monthly Payments

      Weekly: Yes
      Fortnightly: Yes
      Monthly: Yes

      Extra payments

      No minimum

      Deposit methods6

      Direct debit, salary credit, BPAY®4, Bank@Post and myRAMS^

      Loan fixing

      No at origination

      Yes post settlement

      Fee - $295

      Loan switching

      First 2 yrs: Convert to any Self employed Product
      After 2 yrs: convert to any product
      Conversion Fee $295

      Repayment Holiday


      Debit card10 & chequebook


      Tier 2 Genuine Savings Option#


      Value Advantage Package Eligibility3


      ATM11/EFTPOS & cheque access free transactions


      25 free transactions per month.

      After Free Trans: $2.00 for ATMs,
      $0.65 for EFTPOS, $0.90 for Chq

      Statement frequency

      Every 3 months (monthly available)

      RAMS Risk fee Payable by Customer


      Capitalisation of Risk Fee up to


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

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

      1 Not applicable on this product. 2 Not applicable on this product. 3 10 year IO option available for investment purposes only. 4 ® Registered to BPAY Pty Ltd ABN 69 079 137 518. 5 Lock In Fee Rules: For a Single Drawdown Loan, Lock In is applicable for a period of 90 days from the date the application is received by RAMS Origination. 6 Not applicable on this product. 7 Not applicable on this product. 8 Value Advantage Package available on selected loans for customer with total RAMS eligible borrowings of $150,000 or more. Refer to the Value Advantage Package Brochure for Terms and Conditions. 9 Not applicable on this product. 10 Not applicable on this product.11 Not applicable on this product. 

      Value Advantage Package Conditions apply and are available at RAMS.com.au. Available for customers with total RAMS borrowings of $150,000 or more. No discounts apply where total customer borrowings is less than $150,000, and no interest rate discounts apply to an eligible loan while the interest rate is fixed. Total Customer Borrowings is calculated as the total credit limit for each existing RAMS home loan and any new RAMS home loan being applied for, however the discount only applies to the new eligible loan. There is no limit on the number of new eligible variable rate loans within a RAMS Value Advantage Package that can receive an interest rate discount. Annual fee, currently $375, applies. Unless we tell you otherwise, Package benefits cannot be taken in conjunction with, or in addition to other special offers, negotiated rates or discounts. 

      +The  financials you need to support your application are a signed Borrower Certificate of Income Declaration form together with a satisfactory Accountant Declaration for amounts up to $1,000,000 and (if refinancing) statements for the last six months of the loan (s) being refinanced. If the amount is more than $1,000,000 then 12 months of BAS are required. If you manually lodge your BAS evidence of payment to the ATO is also required.




    • 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!

      $220 for each additional valuation.

      Account keeping fee$20 per month
      Discharge fee $295 per loan account (plus legal and other associated costs incurred by us)
      Loan settlement fee $285

      • 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

      • 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

      • 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

      • You could 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

      • Bridge the gap between your old and new property

        RAMS Bridging Option could be just what you need to assist with the purchase of a new property whilst you’re in the process of selling an existing property. It eases the strain of purchasing your new property by bridging the finance gap whilst you wait to receive proceeds from the sale of your existing property. More details

      • Reduce the amount of interest you pay on your loan

        A Mortgage Offset arrangement links your Variable Rate loan with an Offset Deposit account, so that money you hold in your deposit account can reduce the amount of interest you pay on your loan.

        The more money you have in your offset account, the less interest you pay.

        More details

    • David and Simone have their eyes on a house they’d like to buy, priced at $450,000. They have a deposit of around $90,000 plus funds to cover transaction costs, so want to borrow $360,000.

      For them, a competitive interest rate and the ability to make extra repayments are priorities. The couple run a small business together and, although they’ve been self-employed for a number of years, they don’t have up-to-date financials. 

      RAMS says … 

      David and Simone went to see a RAMS home loan specialist who explained that being self-employed doesn’t necessarily have to be incompatible with applying for a home loan.

      With a RAMS Self-employed home loan, they could make extra repayments at any time, and redraw (if they wished) through an ATM, EFTPOS and cheque account. 

      And the Value Advantage Package with its annual service fee of $375, could see them enjoying an even lower interest rate.

      As for documentation, all that David and Simone would need to support their application is:

      • A signed Borrower’s Declaration form  together with a satisfactory Accountant Declaration
      • 12 months of BAS submissions (if manually lodged, then proof of ATO payments needed) 
      • Evidence of 20% of the purchase price plus funds to cover transaction costs, in other real estate, shares, equities or deposit account.