Helping clients acquire a good mortgage in Israel often feels like solving a mystery. Dealing with the bureaucratic hurdles from Israeli banks, compliance issues from the Bank of Israel, making sure lawyers and property appraisers are on the same page, there is always a cast of characters involved in the plot. Our job is […]
Getting turned down by multiple banks when seeking a mortgage in Israel can be an incredibly frustrating experience. We recently had a well-qualified client approach us seeking a mortgage in order to purchase a property here in Israel for 2 million US dollars. According to Bank of Israel’s regulations, the maximum amount a bank […]
People who have great relationships with their bank often think they are getting the best financing deals available on the market. Think again. Take for instance the story that recently came through our office.
A wealthy gentleman here in Israel purchased a second property for $4.2 Million and applied for a mortgage with his bank. […]
Caution: Know this before negotiating on property being purchased second-hand, while still under construction by a developer, in Israel.
You might think real estate mortgages in Israel is a boring topic, but actually, every day is an adventure. We recently did damage control on a case where countless hours of negotiations, paperwork, lawyers fees, appraisal […]
Moshe Kahlon doubled down on his “Buyer’s Price” program which aims to turn thousands of young Israeli couples into landlords homeowners by announcing that the program will extend until the end of 2019. Speaking at the International Economic Forum hosted by Calcalist in Tel-Aviv the Minister of Interior said “those who are attacking the […]
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 […]
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 […]
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 […]
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 […]
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
Life insurance: required
Conversion fee to USD: $25,000
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 […]