RAMS 85% lo doc still going?

Hi,

I remember reading several months ago in a mortgage brokers office that RAMS had a limited time offer of:

- 85% lo doc
- No LMI
- interest rate of 7. something

Is this offer still available?

Thank you.
 
Still out there. Two options are available:
> $500k -> 7.93% plus fees
< $500k -> 8.19% plus fees


It's fairly good if you need an 85% lo doc, but there are still 90% LVR lo docs available at around 8.25%.
 
Still out there. Two options are available:
> $500k -> 7.93% plus fees
< $500k -> 8.19% plus fees

I remembered the interest rate being lower.

It was a special deal where you didn't need an ABN at all.

Anyway, what sort of interest rates are 80-85% no docs?
 
Thanks for your help.

And are there any lo docs, no docs around the 85% range with low exit fees, ie 1 month interest etc.

I know there are 80% lo docs with low exit fees, as I used to have one, but up higher...?
 
The reason the rates are higher than usual is because the LVR is over 80%. There's plenty of cheaper lo docs with LVRs up to 80%. The exit fees for these types of loans are also reasonably high. ABNs are also required.

Most no doc loans will only go to 70%, but there may be one or two about up to 80%.

An 85% no doc with low rates and low exit fees simply doesn't exist.
 
Still out there. Two options are available:
> $500k -> 7.93% plus fees
< $500k -> 8.19% plus fees


It's fairly good if you need an 85% lo doc, but there are still 90% LVR lo docs available at around 8.25%.

90% LVR lo doc at 8.25%. Can I ask which lender is this Peter?

John
 
90% LVR - 3% + Stamp Duty + GST

95% LVR - 3.45% + Stamp Duty + GST

The funder will pay the LMI but the interest rate increases by around 1.1%.
 
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