| Home Loan Lender |
 |
RAMS Home Loan |
|
| Home Loan Product Name |
Rate Relief |
| Interest Rate |
6.59% |
Comparison Rate
Estimated |
7.14% |
| Amount |
$150,000 |
| Term |
30 years |
Initial Monthly Payment
Estimated |
$957.00 |
Monthly Payment
Estimated |
$1,014.66 |
Total Paid
Estimated |
$364,603 |
| Establishment Fee |
$595.00 |
| Enquire/Apply |
 
|
| Target Market |
Savvy customers eligible for professional pricing who want a flexible discounted variable rate loan.
,
Customers who have a longer term ownership horizon who want to benefit from lower rates in the earlier stages of their loan
,
Business purpose loans, loan amount and LVR restrictions apply refer separate guidelines. |
| Acceptable Income |
PAYG Salary / Wages /Self Employed |
| Loan Term |
Maximum term 30 years. |
| Loan Size |
Minimum $100K.
,
Maximum $750K
,
Maximum: depending on LVR, mortgage insurer and postcode. |
| Repayment Type |
Principal and Interest & Interest Only 1 - 5 years & 10 yrs (NB. 10 yrs IO for Investment purpose only) |
| Repayment Options |
Weekly, fortnightly or monthly on any nominated day.
,
Available as an interest only option or principal and interest option.
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Available for accelerated payments. |
| Extra Repayments |
|
| Split Loan Facility |
Available at anytime minimum of $50k. |
| Offset |
Not available. |
| Redraw Facility |
Yes, Free - $1000 minimum. |
| LVR |
Owner Occupied Maximum LVR 100%
,
Investment Maximum LVR 100%
,
Must hold 20% equity in other residential real estate
,
Construction Maximum LVR 95% plus LMI capitalisation Maximum 98%
,
Refinancing Maximum LVR 95%
,
Debt consolidation Maximum LVR 95%
,
Land Max LVR Maximum LVR 90%
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Max LVR on purchase price evidence of transaction costs required.
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Rate Relief can be converted to a Rate Relief Construction only. |
| Fees |
Application Fee $395.
,
Valuation Fee $200.
,
Additional Valuation Fee $220
,
Loan Settlement Fee $250 (shown as Mortgage Prep Fee).
,
Account Servicing Fee Nil.
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Discharge Fee $295 plus legals.
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Loan Conversation Fee $295 (After yr 4: Convert to any full doc product (excluding Easy Start & Rate Relief)
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Early payout: Yr 1-4: 1% the original loan amount.
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original loan amount.
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Early Repayment Refund to customers that settle a new loan within 6 months of incurring the ERF on their original closed RAMS loan.
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Conditions apply refer to BDM for further details.
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Loan Fixing Fee $295 post settlement after 4 years |
| Enquire/Apply |
|