| Home Loan Lender |
 |
RAMS Home Loan |
|
| Home Loan Product Name |
Line of Credit SE Pro Pack 2>$500K |
| Interest Rate |
8.84% |
Comparison Rate
Estimated |
9.00% |
| Amount |
$150,000 |
| Term |
30 years |
Monthly Payment
Estimated |
$1,174.70 |
Total Paid
Estimated |
$432,595 |
| Establishment Fee |
$595.00 |
| Enquire/Apply |
 
|
| Target Market |
Customers who are unable to disclose their full income details and are seeking minimum amount of paperwork and fuss at a Pro pack rate.
,
This includes people with irregular income streams like self employed individuals.
,
They must have a clear credit history, substantial equity and the ability to service their loan payments. |
| Acceptable Income |
Self employed minimum of 2 years; must complete the A&L statement and signed self certification. |
| Loan Term |
Maximum loan term 30 years |
| Loan Size |
Minimum Loan - $250K & $500k
,
Maximum Loan
,
LVR <=60% $1.5M
,
LVR >60% <= 90% $1M |
| Repayment Type |
Principal and Interest and Interest Evergreen Line of Credit |
| Repayment Options |
Weekly, fortnightly, Monthly payment frequencies on any nominated day.
,
available as an interest only option or principal and interest option. |
| Extra Repayments |
|
| Split Loan Facility |
Available at anytime (minimum = $50K). |
| Offset |
No. |
| Redraw Facility |
Yes, No min
,
Redraw fee = Nil. |
| LVR |
Owner Occupier Maximum LVR 80%
,
Investment Maximum LVR 80%
,
Refinance Maximum LVR 80%
,
Land LVR N/A
,
Debt Consolidation Maximum LVR 80% |
| Fees |
Application Fee $395.
,
Valuation Fee $200
,
Additional Valuation Fee $220
,
Loan Settlement Fee $300
,
Account Keeping Fee Single loan $300/2-4 loans $150 per loan/5 or more loans $100 per loan (based on total number of RAMS Pro Packs held by customer)
,
Loan Switching Fee $295
,
Discharge Fee $295 plus legals.
,
Early Repayment Fee Year 1-3: 1%
,
ATM, EFTPOS Cheque access 10 Free Transactions across all access methods |
| Enquire/Apply |
|