Banks & Mortgage

Clients receive the best mortgage services for all their property-financing needs. Working with The Jewish Dream Home means personal support, plus the knowledge and resources that come with years of experience in the mortgage industry.

A mortgage is a long-term bank loan, up to 30 years, secured against your future property. Mortgage tracks come in different shapes; the main difference is how interest is calculated: fixed or variable rates, with variable rates linked to the consumer price index or foreign currency.

The initial amount you borrow from the bank, the part you need to buy the apartment. Interest is calculated on this principal.

A preliminary approval from the bank, valid for 3 months, based on your financial situation, the purpose of the loan and the quality of the property. It is free, non-binding, and important to obtain even before signing a purchase contract.

Probably the most important part of a mortgage: a combination of several routes with different characteristics and interest rates from which your personal mortgage is built, desired monthly repayment, route combinations (within Bank of Israel restrictions), interest per route, risk, repayment period and early-repayment options. A good adviser tailors a mix you can truly meet.

The mortgage amount relative to the actual price of the property. Buy at 1,000,000 NIS with a 600,000 NIS mortgage, the financing percentage is 60%. Note that the interest offered is affected by the financing percentage.

A tool that assures the bank its loan will be repaid, divided in two: life insurance, so the mortgage burden never falls on your family; and building insurance, covering flood, fire or earthquake, protecting both you and the property pledged to the bank.

Understanding the dictionary is one thing, applying the rules and negotiating with the banks is another. That is why we work with an objective, experienced mortgage adviser who speaks fluent "mortgage language" with the banks. Visit our Mortgage Adviser page.