Low Doc Home Loans - RAMS - 10 yr fixed Low Doc |
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to select a different loan amount and loan term. Currently: $150,000 over 30 years |
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| Home Loan Lender |
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RAMS Home Loan |
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| Home Loan Product Name |
10 yr fixed Low Doc |
| Interest Rate |
7.94% |
Comparison Rate
Estimated |
8.05% |
| Amount |
$150,000 |
| Term |
30 years |
Initial Monthly Payment
Estimated |
$1,094.38 |
Monthly Payment
Estimated |
$1,082.17 |
Total Paid
Estimated |
$395,155 |
| Establishment Fee |
$595.00 |
| Enquire/Apply |
 
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| Target Market |
Savvy customers eligible for professional pricing who want a flexible fixed rate Low Doc loan.
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Customers who have a longer term ownership horizon who want to benefit from lower rates in the earlier stages of their loan
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Business purpose loans, loan amount and LVR restrictions apply refer separate guidelines. |
| Acceptable Income |
Self employed minimum of 2 years; must complete the A&L statement and signed self certification.
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Mortgage Insured Self Employed minimum > 70% LVR two (2) years in same business <= 70% LVR one (1) year in same business.
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Non Mortgage Insurance Self Employed minimum <= 70% LVR one (1) year in same business.
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ABN registration for all Self employed applications.
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GST Registration
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No Min GST but if registration is in proximity or as result of loan application satisfactory explanation required Not required if declared Business income is < $75K .
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If declared Income is > $75K and No ABN or GST Registration, then confirmation letter from Applicant’s accountant is required in regards to why GST registration is not applicable. |
| Loan Term |
1, 2, 3, 4, 5 and 10 yr fixed term. |
| Loan Size |
Minimum $25K.
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Maximum: $1,000,000 |
| Repayment Type |
Fixed 1 to 5 & 10 year
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Principal and Interest & Interest Only term 1 - 5 years & 10 yrs (NB. 10 yrs IO for Investment purpose only & IO can not be less that fixed term) |
| Repayment Options |
Weekly, fortnightly or monthly.
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Available as an interest only or principal and interest option.
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Available for accelerated payments. |
| Extra Repayments |
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| Split Loan Facility |
Available at anytime minimum of $25k. |
| Offset |
Not available. |
| Redraw Facility |
Redraw $10 Fee. Minimum redraw amount $1000. |
| LVR |
Owner Occupied Maximum LVR 80%
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Investment Maximum LVR 80%
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Construction Maximum LVR 80%
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Refinancing Maximum LVR 80%
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Debt consolidation Maximum LVR 80% |
| Fees |
Application Fee $395.
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Valuation Fee $200.
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Discharge Fee $295 plus legals.
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Loan Settlement Fee $300 (shown as Mortgage Prep Fee).
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Account Servicing Fee: $120 p.a.
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Redraw Fee $10
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Early payout: Years 1-3: 1% of the original loan amount. Plus Break costs for fixed period
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Fixed Rate Lock-in Fee = 0.15% of credit limit available at application |
| Enquire/Apply |
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| Other Low Doc Home Loans |
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| Other RAMS Home Loan Products |
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This Comparison Rate applies only to $150,000 with a loan term of 30 years. The loan amount and term will affect the comparison rate calculation. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparsion rate calculation but may influence the cost of the loan.
This rate is to be used as a guide only and we recommend that you confirm it with the lender before acting upon it.
The information provided in this website is a guide only and may not be complete for your purposes. ratesonline.com.au is not licensed to provide investment advice and recommends that you consult an independent financial adviser.
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