Or, in other words: you always know how much you have to pay every month
A non-linked mortgage in shekels for a period of up to 30 years, with a fixed interest rate (determined in advance) for the entire mortgage period.
Anyone who is interested in a mortgage that has fixed, clear payments throughout the mortgage period.
Main Advantages
The monthly payments are fixed and known in advance. They will not change for the entire mortgage period.
Payment Method
This type of mortgage can be repaid in accordance with the Spitzer, Grace, or Balloon schedule. You can opt to pay in accordance with a partial grace period and balloon mortgage, at the end of which, the principal will be repaid under a Spitzer table. You can have a partial grace period for up to 3 years and a balloon schedule for a period of up to 3 months.
Payment Arrangements
The mortgage is repaid through an account debit authorization. The repayments are made once a month, on either the 1st or 15th of the month, whichever you prefer. This type of mortgage has no “exit points” and early repayment will involve early repayment fees, calculated until the end of the mortgage period. You can avoid payment of an advance notice fee, provided that you supply notice 10 days in advance, as is customary. The settlement will be no less than 10% of the loan balance and will be paid within 45 days of issuing the notice.
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