Understanding Israeli Mortgage Options for Olim
Mortgage Basics for New Immigrants
As a new Oleh, you have access to special mortgage benefits that can make buying a home in Israel more affordable. The Bank of Israel offers favorable terms for new immigrants within their first 15 years in the country.
Types of Mortgages
Israeli mortgages typically combine several tracks: fixed-rate (kavua), variable-rate (prime), and CPI-linked (tzamud madad). Most advisors recommend a mix of at least two tracks to balance risk.
Olim Benefits
New immigrants can receive up to 90% financing on their first property purchase, compared to 75% for Israeli citizens. Additionally, purchase tax (mas rechisha) exemptions apply for properties up to approximately 1.8 million NIS.
Getting Started
Start by getting pre-approved from multiple banks. Compare their offers carefully, as rates can vary significantly between institutions.
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