You own your property in Israel. You have a mortgage which seemed perfect at the time you financed the property, but times have changed. Interest rates may be lower, your financial picture may be different or you may have found that the terms of the current mortgage are no longer the most beneficial for […]
At this point, you have successfully traversed the application process (Before You Apply – Part 1), been approved for a mortgage (Documentation – Part 2) and chosen the mortgage products that best suit your needs (Mortgage Products – Part 3). In order for the mortgage to actually be funded, the banks have several requirements […]
So, you’ve successfully traversed the application process and have been approved by the bank. One of the first major issues that you will have to ponder is the question of what product or blend of mortgage products is best suited for your particular situation. In this article, I’d like to review the main products […]
In part 1 of this series we discussed when one should apply for a mortgage and the minimum criteria needed to qualify for a mortgage. In this installation, we delve into the documentation that lenders will require for the application process.
What documentation will I need to prepare for approval?
Lenders will minimally require the following […]
A client came to First Israel Mortgages with the following situation; they purchased a property for a large sum of money two years ago. They were unable to obtain a mortgage at the time of the purchase, but the seller was willing to extend a ten-year payment plan. The terms of the plan included […]