RAMS Value Advantage Package

The RAMS Value Advantage Package home loan gives you an interest rate discount that varies according to how much you borrow

If you would like to save money on interest and fees then you may want to consider this home loan. You could be eligible for interest rate discounts on the standard variable rate of up to 1.00% p.a. for the life of your loan with eligible borrowings. There are also some fees waived depending on the type of RAMS home loan you apply for.

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Review by

Richard Whitten is a money editor at Finder, and has been covering home loans, property and personal finance for 6+ years. He has written for Yahoo Finance, Money Magazine and Homely; and has appeared on various radio shows nationwide. He holds a Certificate IV in mortgage broking and finance (RG 206) and a Tier 1 Generic Knowledge certification (RG 146).

Expert review

This home loan package is ideal for first home buyers, those refinancing and the self-employed. This home loan has both full doc and self-employed options. Keep in mind that for full doc loans, lender's mortgage insurance is payable if you have an LVR of 80% or higher, or 60% and above for self-employed loans.

A new offering from RAMS Home Loans can see you get a discount of up to 1% p.a. on the life of your home loan.

About this loan

What are the features and benefits of the RAMS Value Advantage Package home loan?

  • Discounted interest rate. As mentioned before, you may be eligible for interest rate discounts for the following home loans provided by RAMS; the Full Feature Home Loan (the interest rates and fees for this loan are displayed on this page), Line of Credit, Self-Employed Home Loan and Self-Employed Line of Credit.
  • Fee discounts. This home loan offers discounts on the interest rate and fees of the Full Feature Home Loan. The application fee of $595 is waived and there's no monthly fees. Borrowers also pay no fees for increasing, switching or using the portability feature on their home loan. In return for this there's one annual fee of $0.

Features of eligible RAMS home loans

The interest rates displayed above apply to the Full Feature Home Loan taken with the Value Advantage Package. The Full Feature Home Loan, as the name suggests, has a range of features you could find useful in a home loan. Suitable for owner-occupiers, first home buyers and refinancers, you have access to a redraw facility and an offset account. There is also a bridging and construction option. There are also other loans this package is available with:

  • Line of Credit Home Loan. Unlock the equity in your home with the RAMS line of credit home loan, suitable for investors and owner occupiers. Features include easy access through BPAY, debit card, cheque facilities and Bank@Post and the ability to delay your repayments for up to six months.
  • Self-Employed Home Loan. Suitable for the self-employed, this loan also has a simple application process. Features include a redraw facility with no minimums or redraw fees, as well as an offset account with bridging and construction options.
  • Self-Employed Line of Credit. Suitable for the self-employed who are looking to unlock the equity in their home, this loan also has a simple application process. You can also benefit from easy access to your equity using BPAY, debit cards, cheques or Bank@Post.
  • Fixed Rate Home Loan. Suitable for first home buyers and investors looking to fix their repayments for periods of 1,2,3,4,5 and 10 years. You can make additional repayments of up to $25,000 during your fixed period and access a redraw facility if you need to access the money. Interest-only repayments can also be set for a period of time.
  • Self-Employed Fixed Rate Home Loan. Suitable for the self-employed who are looking to fix their interest rates for 1,2,3,4,5 or 10 years. Similar to the loan above, you can make additional repayments of up to $25,000 and access a redraw facility when you need the money. Interest-only repayments are also an option with a construction option, as well as a simple application process.

What fees and charges come with this loan?

  • Application fees. $0. As part of the package loan, RAMS have waived the application fee for eligible home loans.
  • Monthly account-keeping fees. $0. Again, as part of the Value Advantage package, the monthly fees are waived for some home loans.
  • Lender's mortgage insurance (LMI). LMI is insurance to protect the lender—not the borrower—in the case that the borrower defaults on their home loan. It's payable for full doc loans of 80% LVR or more and 60% for self-employed loans.
  • Valuation fees. The first valuation is free, however for each additional valuation the fee is $0.
  • Annual fee. $0. This fee is charged in return for the discounts and other benefits associated with this loan.
  • Loan settlement fee. $285. This fees covers the cost of instructing staff to prepare the relevant loan documents and any communication that may come up when consulting your solicitor.

How to apply

If you would like to take advantage of this home loan, please click 'Go to Site' and you'll be safely redirected to the RAMS application page. You can choose to talk to a RAMS home loan expert or choose to have an expert call you. Once the enquiry form has been completed a RAMS home loans specialist will contact you within two business hours. You will need to submit the following details:

  • Personal details
  • Contact details
  • Loan requirements
  • Employment status

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    Default Gravatar
    June 25, 2015

    i would like all information on this and other products that will get me owning my own home quicker with any/everything to make an informed decision

      Default Gravatar
      June 25, 2015

      Hi Melodie,

      Thank you for your inquiry.

      We have information on a range of different home loans that you can compare. Alternatively, you can contact a mortgage broker who will be able to offer you advice on your specific needs.

      Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you.


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