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 happy customer.

For more, see: First Israel’s mortgage services and the current interest rates in Israel.