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Should you arrange a Property Appraisal before signing the Purchase Contract ?

Normally , the appraiser values the home after signing the purchase contract. But what will happen if you assumed that the purchase value of the property was 1 million shekels and you wanted to take out a 750,000 shekel mortgage

How do you get a Mortgage when you are doing a Self-Build ?

It is important to understand how the financing process works when building the property yourself. The process is slightly different. There are 2 parts. There is the buying of the land and the subsequent building of the property. The purchase

Why does the bank sometimes charge an Early Repayment Fee ?

An Early Repayment charge is sometime levied on someone who wants to pay back the current mortgage to the bank. The reason that the bank can sometime charge this fee is because when you initially took out the original mortgage

How does the Bank of Israel determine how to fix the Prime Rate ?

The most common indicator for mortgages is the Consumer Price Index ( CPI) . The CPI is a measure of the change in prices of the 100 most common products. It measures the increase or decrease of these items. This

Can you borrow money on your Mortgage to Renovate or Expand your Home ?

You can borrow between 60 -75% oft he value of your property for Renovation and Expansion of your home. For example if your property is worth 1 million shekels, you can borrow between 600,000 and 750,000 shekels of the value

Can you take out a Mortgage and use the money for any Purpose ?

    You are entitled to borrow up to 50% of the equity of your home. For example¬† if your property is worth 1 millions shekels you can borrow up to 500,000 shekels for any purpose such as marrying off