Taking a mortgage in Israel, without actually being in Israel

Up until very recently, there were only two banks that allowed taking a mortgage using a power of attorney, meaning the borrower didn't need to be in Israel to get a mortgage. Those were Bank Mizrahi-Tefahot and Bank of Jerusalem, that are traditionally more knowledgeable and accommodating towards foreign buyers. They are, subsequently or [...]

By |2020-07-13T10:39:39+02:00July 12th, 2020|Financing|0 Comments

Buying a house on paper

Buying a house on paper has it's advantages - mainly a higher standard of living, but also has costs associated. Though every project has it's own specifications, it's own contractor and it's own contract, there are few costs that appear across the board. 1. legal costs In addition to paying for your own lawyer, [...]

Mortgage guarantors in Israel

Everyone know what are mortgage guarantors: family or (very) close friends that are willing to co-sign your mortgage, and share some of the risk. Everyone, except the Israeli banking system. After too many stories of guarantors that disappeared leaving their friends and family in a dire financial situation, the Israeli regulators have decided to put [...]

By |2017-08-04T14:18:03+02:00July 24th, 2016|Financing|0 Comments

What is the maximum value of an apartment I can buy?

So you've started to consider the purchase of an apartment. Congratulations! But how will you know the maximum value of an apartment which is within your means to buy with a mortgage? [Too much math? you can get an immediate budget here] There are two main criteria which determine the approval of a mortgage- the cost [...]

By |2017-08-04T14:18:04+02:00February 28th, 2016|Financing, matching wishes and constraints|0 Comments

DIY mortgage

DIY mortgage refinancing (with some professional help): The bottom line: If you're mortgage is from 2008 and earlier you can save a significant amount of money Cost - 2,000-3,000 NIS (not including early termination fee). Time investment - 2-3 days of work, mostly in shorter sessions. Total duration: about a month and a half. Important [...]

By |2016-02-18T12:05:05+02:00February 18th, 2015|Financing|0 Comments