| Home Loan Lender |
 |
RAMS Home Loan |
|
| Home Loan Product Name |
IO Maximiser |
| Interest Rate |
8.65% |
Comparison Rate
Estimated |
8.95% |
| Amount |
$150,000 |
| Term |
30 years |
Monthly Payment
Estimated |
$1,169.35 |
Total Paid
Estimated |
$430,435 |
| Establishment Fee |
$595.00 |
| Enquire/Apply |
 
|
| Target Market |
A low rate home loan designed for investors. |
| Acceptable Income |
PAYG Salary / Wages /Self Employed. |
| Loan Term |
Maximum term 30 years. |
| Loan Size |
Minimum: $100K
,
No Maximum |
| Repayment Type |
Available as a 10 year interest only option with the first 5 mandatory. (NB. 10 yrs IO for Investment purpose only) |
| Repayment Options |
Monthly on any nominated day. |
| Extra Repayments |
|
| Split Loan Facility |
Minimum $50k. Annual fees apply to each split. |
| Offset |
Not Available. |
| Redraw Facility |
Minimum redraw $1000 (only available after 5 years) |
| LVR |
Owner Occupied Max LVR 100% (100% of purchase price, evidence of transaction costs required).
,
Investment Maximum LVR 100% (Must hold 20% equity in other residential real estate).
,
Construction Not available on this product
,
Refinance LVR 95%. (For 90+ LVR equity release funds allowed to maximum of 5% of total loan).
,
Land Max LVR 90%.
,
Debt Consolidation LVR 95% (to $750,000 metro) loans only.
,
Consolidate up to five personal debts.
,
Max LVR on purchase price evidence of transaction costs required.
,
Must hold 20% equity in other residential real estate. |
| Fees |
Application Fee $395
,
Valuation Fee $200
,
Additional Valuation Fee $220.
,
Account Keeping $300 p.a.
,
Loan settlement fee $250 displayed as Mortgage Preparation Fee.
,
Discharge Fee $295 plus Legal.
,
Redraw Fee $0 (available only after 5 years).
,
Switching Fee $295.
,
Early payout: Yr 1-3: 1% of the original loan amount. Yr 4-5: 0.5% of the original loan amount. |
| Enquire/Apply |
|