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RAMS Home Loans

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Compare 100s of home loans

Did you know you can compare 100s of mortgages? Review, calculate interest rate repayments, apply online and save by visiting our main home loans comparison page.

Compare and review RAMS home loans

Looking to finance a new home? When comparing RAMS home loans, there are other key facts to consider and understand, other than just RAMS’s interest rates.

What home loan options does RAMS offer?

RAMS has 3 home loan products:

  • RAMS Line of Credit
  • RAMS Full Feature Home Loan – Interest Only
  • RAMS Full Feature Home Loan

View the above table for detailed product information and a comparison of the interest rates, fees and features.

Do you have a RAMS home loans calculator?

Yes. Use the filter to adjust your loan amount and term to calculate your approximate monthly repayments. When you apply the filter, you will see a breakdown of your approximate monthly repayments as well as the total amount of interest and fees paid.

For a more accurate quote, contact RAMS directly.

How to apply for a RAMS home loan?

If you’d like to apply online for a RAMS home loan, just scroll up and click on “Learn more” to be taken to RAMS’s secure online application form. Before you apply, be sure to learn about RAMS’s loan products, fees and eligibility criteria. Give yourself around 30-60 minutes to complete the home loan application.

RAMS’s home loan eligibility criteria

Before you apply for a home loan, be sure to understand and meet the RAMS’s lending criteria. Below is high-level overview of RAMS’s criteria:

RAMS’s minimum requirements for a home loan

  • Minimum age of 18
  • You have a decent credit history
  • You’re a permanent Australian resident or valid work visa holder (457 or other diplomatic visas)
  • Regular source of income
  • A sufficient deposit

Financial Information you’ll need to provide

Whether at the RAMS branch or online, you will need to show your finances in order for the bank to establish your home loan borrowing capacity:

  • Proof of income, at least 3 months of payslips and/or rental income (if applicable)
  • Tax returns not older than 18 months and an ATO Notice of assessment Personal
  • Proof of ID (Driver License or ID card) passport, contact information and address
  • A list of your expenses, assets and liabilities (such as other loans or credit cards)
  • Any equity or deposit or existing property you already own to support and secure your loan

Have rental income?

If you also have rental income, please provide one of the following:

  • A formal signed lease (either current or new)
  • Most recent rental statement
  • Rental credits to your account for the past 3 months

If you’re self-employed, you will also need to provide:

  • Financial statements for the last year (no older than 18 months)
  • Your most recent personal/business tax return (no older than 18 months)

Other things to keeping mind when applying

  • Approval time can take up to two weeks.
  • It’s advantageous to have a good credit history. For example, you have no recent defaults and no frequent requests for credit
  • Credit cards with large credit limits are viewed as liabilities, even if there’s nothing owing. If you have existing liabilities, be certain you can pay them off and close unnecessary credit cards

There are many additional factors RAMS consider when accessing your application, but the above are the most important. If you feel like you may not meet their eligibility criteria, it may be best to save a little while longer!

Additional RAMS home loan information

RAMS’s minimum and maximum home loan amounts and terms

How much can you borrow? Between $15,000 and $100,000,000, over terms between 1 year and 30 years. Use our filter as a repayment calculator to see your estimated monthly repayments and rates.

Repayment schedule

RAMS allow weekly, fortnightly or monthly repayment.

Extra repayment or early penalties

RAMS allows you to make additional or early repayments. There are fees associated with completely repaying your loan off early. View their terms and conditions to learn more about early termination.

Refinancing

If you want to refinance your home loan and you’re not with RAMS, you will need to provide:

  • Mortgage statements for the last 3 months
  • A current payout quote for any loans you plan to refinance, including all current fees and charges and any early repayment costs or exit fees

Details about your property purchase or construction

You’ll need to provide RAMS with some information about the property you’re buying or building. This may be required before RAMS can finalise your mortgage offer.

If you’re buying:

  • Signed Contract of Sale
  • Copy of Transfer of Land
  • Proof of Property Insurance

If you’re building:

  • Council approved building plans, specifications or Building Permit
  • Fixed Price Builders Contract

Insurance documents

Please bring any documents that can provide information about your current insurance policies, including:

  • Home and contents insurance
  • Investment property insurance
  • Income protection
  • Life insurance
  • Total and permanent disablement cover
  • Trauma cover