Please note: advisory meetings and the service itself are provided in Hebrew only. These guides are here so you can read and understand the topic in your own language.
One of the things that slows a mortgage process down the most is missing documents. Here is an organized list. Any bank may ask for additional documents, but if you prepare these in advance, you will save weeks.
Personal documents (for every borrower)
- ID cards including the appendix (ספח)
- Current account statements for at least the last 3 months (sometimes more)
- Details of existing loans and their balances
- If relevant: a divorce agreement, an alimony ruling
Employees
- The last 3 pay slips (sometimes 6)
- Form 106 for the last year, if required
- Confirmation of seniority from the employer, especially in a new job
Self-employed
- Annual reports for the last two years and income tax assessments
- An accountant's confirmation of income for the current year
- Business bank statements
Details: mortgages for the self-employed.
Property documents
- A signed purchase contract (or a draft at the approval-in-principle stage)
- A Land Registry extract (נסח טאבו) / confirmation of rights from the Israel Land Authority or the housing company
- For a new apartment from a contractor: the contract, specification and payment schedule. Buying from a contractor
- Appraisal (the bank orders its own appraiser)
Equity
- Evidence of the source of the money: savings, study fund, sale of a property
- A gift from parents: sometimes a gift letter will be required
Insurance (before signing)
- Life insurance for every borrower. You can buy it from any insurance company; you do not have to go through the bank. Mortgage insurance
- Building insurance
Elia's tip: Scan all your documents into one folder on your phone. When the bank asks for another document, you can send it within a minute instead of within a week.
Not sure what fits your case? After the introductory conversation I send every client a personalized list.
This article is general information and is not personal advice or a commitment. Rules, interest rates and taxes change from time to time, so check the current situation and your own figures before any decision.