New Mortgages

For most people, purchasing a home is the largest financial endeavor that they undertake. Yet, many individuals enter this critical process with mortgage institutions with little knowledge or understanding of what exactly is being offered and the impact of each option on their finances. This is even more of a problem for people who may not be familiar with the Israeli banking system or "how things work" in Israel.

Think about the following facts, and you'll understand how truly complex and expensive this venture truly is:

• As of this writing, there are more than 30 unique mortgage tracks available in Israel.

• It's difficult to compare different mortgage tracks because the various lending bodies will offer tracks that have the same name but are based on different bench mark rates and variables.

• Because of the many bureaucratic hurdles in the mortgage process, you will often find that you are on a "mission impossible" vis-a-vis contractual timing.

• Israel's mortgage and money markets are constantly changing, so any decision you make now, may be invalid later. In addition the initial quotes given by the banks are only binding for 24 days and as a result you may find that by the time you actually receive the funds the terms of the loan have changed.

 

Customization Saves You Money

In short, you are facing a market that is exceedingly complex. Add to that the fact that the lending bodies are businesses — and, as businesses, they are trying to make a profit. More often than not, the mortgage is chosen based on what is best for the lender, not the borrower.

IMC was established to help mortgage seekers sort through the complexities and identify the mortgage track or tracks that are most suitable for their needs. In the process, IMC is able to save it’s clients tens and often hundreds of thousands of shekels over the life of their mortgage.