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RAMS Low Rate Home Loan

Features

RAMS Low Rate Home Loan offers a fairly average variable rate for owner-occupied properties, and a slightly higher rate for investment properties.

This loan lets you borrow up to 95 per cent of a property’s value, which means you only have to make a small five per cent deposit for this loan.

The RAMS Low Rate Home Loan allows owner occupiers to switch to interest-only repayments for one to five years, and 10 years for investors.

You can also split this loan with a fixed rate option, which you only have to pay a fee for doing if you make your split post-settlement.

The Low Rate Home Loan provides the flexibility to make your repayments weekly, fortnightly or monthly which can be deposited directly via direct debit, salary credit, BPAY and the myRAMS internet banking service

You can also make extra repayments without penalty while being able to redraw these funds for free through the redraw facility.

If you do get ahead on your loan repayments, you can take a repayment holiday. Furthermore, you can defer repayments for up to 12 months should you hit particularly challenging times, but there are conditions and fees for this option.

You can reduce the amount of interest on your loan through the 100 per cent offset account, which links this deposit account with your loan and only charges interest on the difference between the two balances.

And, if you want to purchase a new property but your existing property has not yet sold, bridging finance is available on this loan. The Low Rate Home Loan is also available for construction purposes.

Who is the RAMS Low Rate Home Loan good for?

The Low Rate Home Loan could be suitable for buyers who want a relatively low rate and a variety of features, but have a smaller deposit. 

Review - What RateCity says

The RAMS Low Rate Home Loan provides great flexibility with features such as bridging finance, penalty-free early repayments, offset account, redraws, an interest only option and the ability to take a repayment holiday. This flexibility does come at a price however. The interest rates offered aren’t the lowest on the market and there are a number of fees to include when working out the total cost of this loan.

It’s best to match up your needs to the options available in order to determine the most suitable mortgage for your individual circumstances.

RAMS Low Rate Home Loan Options

If you’d like further information about the RAMS Low Rate Home Loan, follow the below link.

Variable Rates from

4.37%

Advertised rate

4.43%

Comparison rate
Pros
  • 100 per cent offset account available.
  • Small deposit required.
  • Suitable for construction.
Cons
  • Average variable interest rate.
  • Moderately high upfront costs.
  • Discharge fee.
Eligibility

Must be an Australian citizen or permanent resident.

Must be at least 18 years of age.

Must meet serviceability criteria.

Suitable For
  • First Home Buyers
  • Owner-Occupiers
  • Refinancers
  • Investors
Fees
  • Estimated upfront fees: $880
  • Discharge fees: $295
  • Ongoing fees: $0

RAMS charges no ongoing fees for the Low Rate Home Loan, however, you will have to pay a high upfront cost and a moderate exit cost when you are discharged from your loan.

Features
  • Redraw facility
  • 100% offset account
  • Unlimited extra repayments
  • Weekly repayments
  • Fortnightly repayments
  • Monthly repayments
  • Loan allows split interest rate
About RAMS

RAMS is an Australian mortgage securities provider offering home loans, transaction and savings accounts and insurance. There are a number of RAMS home loan centres across the country in addition to mortgage specialists that will visit your home or office.

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