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Mashkanta (mortgage) is regulated by Bank of Israel. The standard structure: down payment (hon atzmi) ~25-30% for a first home (50% for second or investment property), the rest financed over 25-30 years. Israeli mortgages mix multiple tracks (maslulim), Prime (variable), CPI-linked (m'kushar mad'd), and fixed (kavua), and most loans are anti-prepayment (no penalty). Top mortgage banks: Bank Leumi, Bank Hapoalim, Mizrahi-Tefahot, Bank Discount.
Cultural note, Mortgage approval relies heavily on income verification. Bank of Israel requires monthly debt service ≤ 30% of income. Most olim have trouble during the first 1-2 years (no Israeli credit history) but become eligible after stable employment. Olim chadashim get specific mortgage tracks via Bank Mizrahi-Tefahot ("oleh chadash" rates). Standard application takes 30-60 days. Israeli mortgages feature high upfront costs: appraisal (~1500 NIS), insurance, registration. Recent trend: 40% of new mortgages by 2023 are CPI-fixed (kavua tzmud).
Mortgage Basics
Mortgage Tracks (Maslulim)
Mortgage Banks
Loan Terms
Application Process
First Mortgage Meeting
Olim couple meets a Mizrahi-Tefahot mortgage advisor.