Mortgage brokers in Israel got a big win last week from the Antitrust authority and the Knesset Finance Committee.
In the wake of the recent 2% spike in interest rates despite benchmark interest rates holding steady, the Antitrust authority launched an investigation into mortgage banks’ pricing practices.
Advocate Michal Halperin, the leader of the investigation, reported: […]
February 21: Application received.
The first thing I did was review the contract. The funds were needed on March 1 and there was only a 7 day grace period!
I immediately called the client and told him my feelings regarding the timeframe. “We had a disagreement with the seller which held things up. Do your best”, […]
I wanted to share a recent deal we closed:
Apartment price: $4,470,000
Offer secured through a different broker:
Loan amount: 8,500,000 NIS or 50% LTV – appraisal subject to review
Rate: 4.41%
Life insurance: required
Conversion fee to USD: $25,000
Our offer:
Rate: 3.58%
Loan amount: $2,235,000 -no review of appraisal required
Life insurance: waived
Conversion fee: $0
Total savings over the life of the loan: +$500,000
One […]
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