About Norman Shapiro

Originally from Scranton, PA, Norman moved to Israel in 1995, and is fortunate to live here with much of his extended family. A graduate of Yeshiva University, Norman has been in the financial sector his entire career – starting with the commodity trading giant, Philipp Brothers in New York. He brings a creative viewpoint to the mortgage business, with the unique ability to find the best solution for his clients.

Inflation Linked Mortgages – Beware!

With current mortgage rates relatively high, everyone is looking to find mortgage products that might ease the pain of high monthly payments. Inflation Linked Mortgage (ILM) products are often thought of as a good alternative with low rates and low monthly payments. But there is more to it than that. Much more. Let’s take […]

By |August 18th, 2023|Israel Mortgage News, Israel Real Estate News|0 Comments

Understanding Mortgage Prepayment Penalties in Israel

If you have a mortgage or looked into getting a mortgage in Israel, you likely know that in Israel the banks may charge a fee in the event you pay off the mortgage before the end of the term of the mortgage. Misconceptions abound, and I would like to us this forum to help […]

By |August 11th, 2023|Israel Mortgage News|0 Comments

Age and Its Impact on the Mortgage Process in Israel

When it comes to obtaining a mortgage in Israel, age may play a significant role in determining the terms and conditions of the loan. Banks have specific regulations and requirements in place to ensure that mortgages are manageable and paid off within a reasonable timeframe. In this article, we will explore how age influences […]

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The Importance of an Appraisal Prior to Signing a Property Contract in Israel

Purchasing property is a significant financial decision, and conducting thorough due diligence is crucial for a successful transaction.

In the context of real estate in Israel, obtaining an appraisal prior to signing a contract plays a vital role.

This article aims to highlight the importance of appraisers in assisting buyers by establishing the true value of […]

By |June 12th, 2023|Israel Real Estate News|0 Comments

7 Unique Aspects of the Israeli Mortgage Market

Many of those looking to secure a mortgage on their property in Israel either currently live or have lived in a foreign country.

While many aspects of the mortgage offerings, requirements and regulations are similar to other Western economies, there are several aspects of the Israeli mortgage landscape that are significantly different and the following […]

By |April 2nd, 2023|Points of Interest|0 Comments

Why Use a Mortgage Broker? (Part 6 of the Israel Mortgage Primer series)

If you’ve read through the first five parts of the Israel Mortgage Primer series, you should have a pretty good idea of what is involved in the mortgage process.

We’ve reviewed what you need to know Before You Apply, the Documentation necessary for a mortgage approval, the various Mortgage Products available from Israeli banks, the […]

Refinancing (Part 5 of an ongoing Israel Mortgage Primer series)

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, the variable rates that were attractive at the time you took the mortgage may now be significantly higher,  your financial picture may be different or you […]

Funding Requirements (Part 4 of the Israel Mortgage primer series)

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 – […]

Mortgage Products (Part 3 of the Israel Mortgage Primer series)

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 that are […]

Documentation (Part 2 of the Israel Mortgage Primer series)

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.

See: Before you apply (Part 1 of the Israel Mortgage Primer series).

In this installment, we delve into the documentation that lenders will require for the application process.
What documentation will I […]