| Home Loan Lender |
 |
RAMS Home Loan |
|
| Home Loan Product Name |
SE Pro Pack 2 >$500K 80 Option |
| Interest Rate |
6.89% |
Comparison Rate
Estimated |
7.19% |
| Amount |
$150,000 |
| Term |
30 years |
Monthly Payment
Estimated |
$986.90 |
Total Paid
Estimated |
$364,915 |
| 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.
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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.
,
Low Doc Self Employed applications to provide ABN number and registration to cover stated minimum term of self-employment (min. 2 years or 12 months). GST registration required where income > $75K. Where the GST and ABN registrations do not match, applicant will need to show that the income declared is consistent over the period stated). |
| Loan Term |
Maximum loan term 30 years |
| Loan Size |
Minimum Loan - $250K & $500k
,
Maximum: depending on LVR, mortgage insurer and postcode.
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LVR <= 60% $1.5M
,
LVR >60% <= 80% $1M |
| Repayment Type |
Principal and Interest and Interest Only up to a total of 5 years.. |
| 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 LVR80%
,
Investment Maximum LVR 80%
,
Construction Maximum LVR 80%
,
Refinance Maximum LVR 80%
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Land LVR N/A
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Debt Consolidation Maximum LVR 80% |
| Fees |
Application Fee $395.
,
Valuation Fee $200.
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Additional Valuation Fee $220
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Loan Settlement Fee $300
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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)
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Loan Switching Fee $295
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Discharge Fee $295 plus legals.
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Early Repayment Fee Year 1-3: 1%
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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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ATM, EFTPOS Cheque access 15 Free Transactions across all access methods
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Loan FixingFee $295 post settlement only
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Construction Low Doc policy
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At Completion Valuation cost now $0 (previously $220).
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Full council approval plans required before progress payments can be made. RAMS must be noted on the Clients Home Insurance policy.
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Customers who convert their current loan to a construction loan will not be charged the $295 Conversion Fee. A Conversion Fee is payable if changes are made such an increase or a change of product. |
| Enquire/Apply |
|