Uncategorized

Aliya: When to take your mortgage in Israel

If you are planning on making Aliya and buying a home in Israel, it is important to consider when to take out your mortgage – either before or after making Aliya. There are advantages and disadvantages to each option, below are a few of the main points to consider:

Taking a mortgage prior to making […]

By |July 17th, 2017|Uncategorized|0 Comments

Knesset backs Mortgage Brokers in Israel

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.

Adv. Michal Halperin, the leader of the […]

By |June 6th, 2017|Uncategorized|0 Comments

The bank is changing my rate?!

This is one of those stories that seems to repeat itself time and time again… Mr. Cohen, a former colleague of mine at First Meridian Mortgage in New York, had waited a long time to be able to purchase a property in Israel. He and his family have been coming to Israel a few […]

By |May 16th, 2017|Uncategorized|0 Comments

Mortgage in 16 Days @2.4%: A Timeline

Feb. 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 […]

By |March 10th, 2017|Uncategorized|0 Comments

Mortgage in Israel: Saving $500,000

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 very […]

By |February 20th, 2017|Uncategorized|0 Comments

Mortgage in Israel: Low interest rates = High mortgage rates?

When I saw my phone buzz at 5:30AM I knew it could only be one person. My client living in Singapore waiting to discuss a six million NIS approval was the only person who texts me at that time. Given than my wife had recently given birth to twins boys I happened to be […]

By |February 8th, 2017|Uncategorized|0 Comments

The beginning of the end of the housing crisis?

The big news in Israeli real estate over the last decade has been the ever-increasing price of home ownership. Since May 2007 average home prices have risen by 108% while in areas such as Tel Aviv the rise has been even steeper. This has been attributed to increased demand due to factors including low […]

By |December 5th, 2016|Uncategorized|2 Comments

“What’s the rate?”

As mortgage brokers, “What interest rate can you offer?” is the question we most commonly hear from our clients – and we can understand why. Prospective borrowers from most Western countries are accustomed to certain norms in the mortgage market such as financing only being offered in the local currency and standardized conditions amongst […]

By |December 2nd, 2016|Uncategorized|Comments Off on “What’s the rate?”

Top 5 mortgage tips and tricks

With the lack of transparency in the mortgage market in Israel one is likely to encounter misinformation and unnecessary “red-tape” when exploring financing options. As each of the banks in Israel have their own lending parameters we decided to share our favorite mortgage tips to make your home financing needs a reality:

1) No life […]

By |November 3rd, 2016|Uncategorized|Comments Off on Top 5 mortgage tips and tricks

Affordable Housing for all?

We have all heard it before: The price of apartments in Israel never seems to drop. Lately, Moshe Kahlon and Yoav Galant from the Kulanu party have staked their entire political reputation on increasing the affordability of apartments. Their solution: Mechir L’mishtaken, a program where the government auctions off land at a significant discount to developers willing […]

By |October 3rd, 2016|Uncategorized|Comments Off on Affordable Housing for all?