For those wishing to buy real estate in Israel on credit, Israel Apartments provides a full range of financial services. And – free of charge in case of buying real estate in the agency.
Usually, the purchase of real estate is one of the most serious life decisions, and mortgages in Israel require a separate study. Although this market is quite volatile, you should know the basic principles. So, before taking any action in relation to real estate, especially before buying land, you need to check:
- whether the land is registered in the land register;
- who owns the rights to land;/li>
- are there people registered who act as the legal owners of land rights as such.
Along with this, mortgages in Israel require in-depth research and correct assessment of the financial capacity to repay the loan. According to the law, real estate can be purchased by the owner of an account in one of the Israeli banks. Foreigners, including Israeli citizens who are not residents of Israel, can apply for a loan in the amount of up to 50% of the cost, and residents – no more than 75%.
The buyer must provide proof of the availability of resources to pay off the mortgage at the approved rate. This usually requires the following documents:
- recent bank statements;
- recent tax returns;
- last payrolls;
- ID card, passport or driver’s license.
The lender requires the buyer to have income three times the monthly mortgage payment. However, if the buyer does not have the stipulated monthly income for obtaining a mortgage loan, he can still qualify for the loan under certain conditions.
Loans for real estate in Israel are issued both for the purchase and construction of a house, as well as for the purchase of an apartment in a new building or on the secondary market. At the same time, a mortgage in Israel means real estate that is purchased using a loan and pledged to a bank. The house or apartment is owned by the buyer, however, it remains pledged until the loan is fully repaid. The calculation of the amount for which loans are issued for real estate in Israel is primarily influenced by such factors as the buyer’s income level and the value of the property.
The effective structure of such an option for real estate collateral as a mortgage in Israel, in turn, is influenced by:
- firstly, the loan amount;
- secondly, the time during which the payment is made;
- third, the interest rate that determines real estate loans in Israel.
Israrelapartments agency provides fast and effective assistance in such an important issue as a mortgage in Israel, offering the best financing option. Specialists deal with all bureaucratic issues, the solution of which is associated with various government and financial institutions. After all, a mortgage in Israel is a complex process that requires a professional approach and experience in the local real estate market.
The list of services that involves buying real estate in Israel on credit includes:
- consultations on registration of a mortgage;
- search for profitable credit lines in Israeli banks;
- assistance in preparing all the necessary documents;
- full support (turnkey) of a mortgage transaction;
- opening an account, assistance in obtaining a loan for non-resident citizens.
Among the clear advantages of buying real estate in Israel on credit with the help of Israrelapartments are the lowest interest rates. If the mortgage in Israel is formalized correctly, then it can save the buyer from about 20 to 30 thousand dollars.
And, in conclusion, it should be noted once again that all financial services when buying real estate in Israrelapartments are provided free of charge. This saves not only money spent on the services of lawyers and appraisers, but also time for negotiations, paperwork, etc.