If you’re self employed, you may think that you’ve got very little chance of securing the finances you need to help you buy a home – well, you’re wrong!
Even if you’re self employed and potentially open to more financial risks, RAMS has a range of home loan options created specifically for people who are self employed but also want the security and stability of owning their own home. Find out more about how we can help you get into the property market…
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At RAMS, we understand that being your own boss means that your time is precious and moreover, that the time you have to devote to your own needs is minimal.
We also know that it can be difficult to provide up-to-date financial information in support of your home loan application, which is why the RAMS team has created a range of Low Doc home loans to make it as easy as possible for you to find and secure a home loan that suits your individual needs.
The RAMS range of Low Doc loans all require a signed Borrower’s Declaration which states your income and confirms your ability to make the required repayments. If you meet RAMS’ lending criteria, then there’s no need for you to supply additional supporting material such as financial statements or tax returns. So, no need for reams of paperwork and hassle.
You can also select from fixed rate, variable rate and discounted pro pack options. All RAMS Low Doc loans are available to owner-occupiers and investors.
If you are looking at a total of $250,000 or more in borrowings, then the RAMS SE Pro Pack could be just the right home loan to suit your needs.
With the RAMS SE Pro Pack you’ll also have the benefit of a discounted rate1 for the life of your loan and access to money management facilities such as ATM, EFTPOS and chequebook access and you will benefit from 25 free transactions2 every month across all your access methods.
You can borrow up to 60% of the purchase price, have redraw access to any overpayments you make during the life of the loan and a choice of repayment methods – direct debit, salary credit, bank@post or BPAY3.
The RAMS Lifestyle Option is also available as part of the RAMS SE Pro Pack home loan. Using the RAMS Lifestyle Option in conjunction with your loan means that you can defer repayments on your loan for up to 6 months for a maximum of 2 times during the life of your loan.
This option can be highly beneficial for self employed borrowers, as it can assist them in times of slow cash flow.4
The RAMS Construction Option is also available with the RAMS SE Pro Pack home loan and can be used for a number of different purposes:
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- to purchase land and construct a dwelling
- to refinance an existing loan held with another loan provider and construct a dwelling5
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- to finance the construction of a dwelling on existing land
- to conduct major renovations to a new or existing property
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What other Low Doc loans can you consider?
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There are a range of other Low Doc home loan options that you, as a self employed applicant, can also consider in line with your current and proposed future financial situation. A good selection can be found here:
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http://www.rams.com.au/default.asp?page=/home+loans/low+doc
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To find out which RAMS home loan option will work best for you, speak with a RAMS Consultant today.
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1: Discounted of the current RAMS SmartWay Variable Rate.
2: Free ATM transactions relate to Westpac, St George and Bank SA branded ATM’s only. Other institutions may charge a fee for use of their ATM’s, payable in addition to fees for transactions over fee threshold. Direct charging fee payable to owner of ATM when you use a non Westpac, St George and Bank SA branded ATM.
3: BPAY available for extra payments only, not for scheduled loan repayments.
4: Conditions and fees apply so check further details with a RAMS representative if you are interested in this option.
5: Excludes partly completed construction loans
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