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Mortgage Expert: Getting mortgage from abroad

AVNER BUNTMAN The Jerusalem Post
Mortgage Expert: Getting mortgage from abroad - Israel - Mortgage

Through their business, Avner Buntman and his consulting company Mortgage Israel see a real need for people to understand the mortgage industry in Israel. As the first english-speaking mortgage company in Israel, Avner and his team have given various seminars for Nefesh B'Nefesh and have helped hundreds of new olim and overseas buyers with their mortgage needs. Their firm specializes in securing residential and commercial loans primarily for the Anglo market in Israel. They will be answering questions on the Israeli mortgage market and guiding readers into making the right financial choices.

Q: I'm coming to live in Israel this summer. Am I able to get a mortgage in Canada for a home in Israel?

A: To date, I do not believe it's possible to get a loan from a Canadian bank using Israeli real estate as collateral. The only thing you can do is take a home equity loan, from a Canadian bank, on an already existing asset in Canada and then use the funds for a purchase in Israel. Nonetheless, it is possible to arrange a loan from an Israeli bank (presently at better interest rates than a Canadian bank), while you are still in Canada


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