RAMS Essential Home Loan

This product is available in different versions. Pick the right version for you here.

The details shown below are for an owner occupier taking out a principal & interest loan of at least $15,000 with an LVR below 95%

The details shown below are for an owner occupier taking out a interest only loan of at least $15,000 with an LVR below 80%

The details shown below are for an investor taking out a principal & interest loan of at least $15,000 with an LVR below 90%

The details shown below are for an investor taking out a interest only loan of at least $15,000 with an LVR below 80%

Choose the version of this loan that suits you best

  • Owner Occupier (Principal & Interest)

    LVR < 95%

    Loan: $15,000

  • Owner Occupier (Interest Only)

    LVR < 80%

    Loan: $15,000

  • Investor (Principal & Interest)

    LVR < 90%

    Loan: $15,000

  • Investor (Interest Only)

    LVR < 80%

    Loan: $15,000

2.99% p.a.

3.05% p.a.

$0.00

RAMS Essential Home Loan

2.99% p.a.

3.05% p.a.

$0.00

3.84% p.a.

3.90% p.a.

$0.00

RAMS Essential Home Loan

3.84% p.a.

3.90% p.a.

$0.00

3.74% p.a.

3.80% p.a.

$0.00

RAMS Essential Home Loan

3.74% p.a.

3.80% p.a.

$0.00

4.04% p.a.

4.10% p.a.

$0.00

RAMS Essential Home Loan

4.04% p.a.

4.10% p.a.

$0.00

Mozo Review   RAMS Essential Home Loan Review

Last updated: 22 October 2019.

What's hot:
  • 2.99% variable rate (3.05% comparison rate*)

  • Free extra repayments and redraw facility

  • Repayment holidays

What's not:
  • $595 application fee

  • $275 settlement fee

Mozo snapshot:

The RAMS Essentials Home Loan is great for anyone starting out or buying the home of their dreams. With a low 2.99% variable rate (3.05% comparison rate*), no ongoing fees and flexible repayment options you can be sure your repayments are going towards paying off your loan as quickly as possible.


Key features:

The RAMS Essentials Home Loan has a bunch of options for different types of borrowers. The loan is available for both owner occupiers and investors and allows each group to borrow either principal & interest or interest only.

As an owner occupier, you can borrow up to 95% of the property's value for principal & interest loans. For investors, you can borrow up to 90% of the property's value on a principal and interest loan. For interest only both investor and owner occupiers will need at least a 20% deposit to be able to borrow.

Extra repayments are available for free and there's no minimum redraw amount if you find you need that cash back.

One of the more unique features of the loan is its lack of maximum loan amount; which makes the RAMS Essentials Home Loan ideal if you are looking at taking on a big mortgage with competitive rates. On the other hand there's also a notably low minimum interest rate of only $15,000.

The repayment options should suit most payday frequencies, with weekly, fortnightly and monthly repayment options available. 


In case you can't decide which side of the fence the grass is greener there is a split account option which means you can split your low rate loan between a variable and fixed rate.

Lastly, if you ahead on your payments and want to have a break, you'll be able to take a repayment holiday, which let's you miss a repayment.

Who it's good for:

The RAMS Essentials Home Loan is great for anyone looking for low cost of entry into the home loan market.


Any catches?

There are a couple of fees that might get you bleating; to kick off your loan you'll need to pay a $595 application fee. While the end of the will be coupled with a $285 settlement fee and standard $295 discharge fee.


Details

Rates and fees information correct as at 16 November 2019. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • 2.99% p.a.

  • n/a

  • n/a

  • n/a

  • 3.05% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $595.00

  • $0.00

  • $0.00

  • $285.00

  • n/a

  • $0.00

  • $295.00

Other financial bits
  • $15,000

  • none

  • none

  • 95.00%

Features
  • Owner Occupier

  • Principal & Interest

  • Weekly, Fortnightly, Monthly

  • yes - free

  • yes

  • yes - free

  • $0.00

  • yes

  • yes

  • none

  • none

  • none

*WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

Details

Rates and fees information correct as at 16 November 2019. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • 3.84% p.a.

  • n/a

  • n/a

  • n/a

  • 3.90% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $595.00

  • $0.00

  • $0.00

  • $285.00

  • n/a

  • $0.00

  • $295.00

Other financial bits
  • $15,000

  • none

  • none

  • 80.00%

Features
  • Owner Occupier

  • Interest Only

  • Monthly

  • yes - free

  • yes

  • yes - free

  • $0.00

  • yes

  • yes

  • none

  • none

  • none

*WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

Details

Rates and fees information correct as at 16 November 2019. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • 3.74% p.a.

  • n/a

  • n/a

  • n/a

  • 3.80% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $595.00

  • $0.00

  • $0.00

  • $285.00

  • n/a

  • $0.00

  • $295.00

Other financial bits
  • $15,000

  • none

  • none

  • 90.00%

Features
  • Investor

  • Principal & Interest

  • Weekly, Fortnightly, Monthly

  • yes - free

  • yes

  • yes - free

  • $0.00

  • yes

  • yes

  • none

  • none

  • none

*WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

Details

Rates and fees information correct as at 16 November 2019. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • 4.04% p.a.

  • n/a

  • n/a

  • n/a

  • 4.10% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $595.00

  • $0.00

  • $0.00

  • $285.00

  • n/a

  • $0.00

  • $295.00

Other financial bits
  • $15,000

  • none

  • none

  • 80.00%

Features
  • Investor

  • Interest Only

  • Weekly, Fortnightly, Monthly

  • yes - free

  • yes

  • yes - free

  • $0.00

  • yes

  • yes

  • none

  • none

  • none

*WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

Customer Reviews

How are RAMS home loans rated by the Mozo community?

Overall customer rating
5.8/10

Based on 219 RAMS home loan reviews

Price
6.1/10
Features
5.5/10
Customer service
5.8/10
Convenience
5.4/10
Trust
5.5/10

Latest reviews of RAMS Essential Home Loan

  • Overall
    1/10
    Only there for the money, low customer service.

    Good to get your foot in the door, but then they wring you dry.

    Good to get your foot in the door, but then they wring you dry.

    Price
    4/10
    Features
    10/10
    Customer service
    3/10
    Convenience
    0/10
    Trust
    2/10

    Lisa | South Australia

    reviewed 2 days ago

  • Overall
    7/10
    Trustworthy, well known, competitive.

    The only issue is I had asked for an offset account but we never got that.

    The only issue is I had asked for an offset account but we never got that.

    Price
    7/10
    Features
    2/10
    Customer service
    7/10
    Convenience
    7/10
    Trust
    8/10

    Renai | New South Wales

    reviewed 10 days ago

RAMS

About RAMS

RAMS home loans believe in the Australian dream of owning your own home and aim to make this dream come true. With their flexible options and innovative products, RAM home loans is making the dream a reality. RAMS home loans aim to provide home loan solutions to meet many different needs, including low deposit loans, no deposit loans, low doc loans, line of credit loans and low rate loans for members Australia wide.

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