Mortgage Application Form

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Personal Information
Full Name
(as it appears on ID) List other names: Hebrew, Maiden
Full Name
(as it appears on ID) List other names: Hebrew, Maiden
Home Telephone
Work Telephone
Home Telephone
Work Telephone
Email
Fax
Email
Fax
Cell
T.Z. (Passport for non-citizens)
Cell
T.Z. (Passport for non-citizens)
Did you make Aliyah?
- Yes
- No
Date of Aliyah
Did you make Aliyah?
- Yes
- No
Date of Aliyah
Birthdate
Academic/Professional Degree
Birthdate
Academic/Professional Degree
Marital Status
Date of Marriage
Number of Dependents
Ages of Dependents
Current Address (Address, City, State, Zip)
Country
Do you rent or own?
- Rent
- Own
How much is the monthly rent?
Do you rent or own?
- Rent
- Own
How much is the monthly rent?
Do you own a home? Do you have a current mortgage? For what amount?
Employment Information
Employment Status
Occupation / Profession / Title
Employment Status
Occupation / Profession / Title
Company Name
Address of Company
Company Name
Address of Company
Dates / Period of Time at Current Job
Dates / Period of Time at Current Job
Net Monthly Income (NIS)
Net Monthly Income (Foreign Currency)
Net Monthly Income (NIS)
Net Monthly Income (Foreign Currency)
Other Income (stipends, parents, pension, investments)
Other Income (stipends, parents, pension, investments)
Bank Name, Branch Number, Account Number
Mortgage and Property Information
Property Address
Number of Rooms
Which floor?
Property Type
Value of Property (in NIS)
Amount of Mortgage Requested (in NIS)
Date Mortgage is Needed By
Closing Date
Amounts Already Paid
Length of Mortgage desired (max 30 years)
From whom purchased?
Registered In
The amount of mortgage approved by the bank is based on a percentage of the APPRAISED value of the property, and not necessarily the amount you paid for the property. Please note that it is common for the appraised value to be lower than the current market selling price. Do you have any reason to believe that your property would be appraised for less than the actual purchase price?
The amount of mortgage approved by the bank is based on a percentage of the APPRAISED value of the property, and not necessarily the amount you paid for the property. Please note that it is common for the appraised value to be lower than the current market selling price. Do you have any reason to believe that your property would be appraised for less than the actual purchase price?
- Yes
- No
Have there been any renovations or additions to the property that may have required a permit?
Have there been any renovations or additions to the property that may have required a permit?
- Yes
- No
Was a permit obtained?
Was a permit obtained?
- Yes
- No
In most cases, the bank requires the following: a) Your down payment funds must be paid before the bank will release any portion of the mortgage funds to the seller/builder. Is this a problem?
In most cases, the bank requires the following: a) Your down payment funds must be paid before the bank will release any portion of the mortgage funds to the seller/builder. Is this a problem?
- Yes
- No
In most cases, the bank requires the following: b) The purchase taxes for the property must be paid prior to the bank releasing any portion of the mortgage funds to the seller/builder. Is this a problem?
In most cases, the bank requires the following: b) The purchase taxes for the property must be paid prior to the bank releasing any portion of the mortgage funds to the seller/builder. Is this a problem?
- Yes
- No
SUPPLEMENTAL DOCUMENTATION

In addition to the above application, please provide copies of the following:

1) Proof of Identification

ISRAELI CITIZENS: Teudat Zehuts of both spouses. Please include the complete unfolded sefach (the paper portion of the teudat zehut)

NON-ISRAELI CITIZENS (who do not also have Israeli citizenship): Passport and Driver’s Licenses of both spouses.

_______________________________

2) Bank Accounts

Israeli Bank Accounts: Bank statements for 3 months

Foreign Bank Accounts: Bank statements for 3 months from any bank accounts that show deposits of income.

_______________________________

3) Proof of Income

FOR ISRAELI SALARIED EMPLOYEES: Work receipts (pay stubs) for the last 3 months from any income earned in Israel.

FOR ISRAELI SELF-EMPLOYED WORKERS: Tax returns for the last 2 years + Letter from a certified accountant confirming income from January 1 (of the current year) – Present.

WORK EARNED FROM ABROAD: Last 2 years’ tax returns. (For US Citizens: For the most recent year, the full tax return is required. For the previous year, only the first 2 pages of the tax return are required.

_______________________________

4) Credit Report and Credit Score. (US, UK and Canadian Income Earners)

For citizens earning income in the US, the UK and Canada: Credit Report and Credit Score (from the US, UK or Canada) from the main income earner. This may be obtained from one of the following websites: www.fico.com, www.transunion.com, www.equifax.com

_______________________________

5) Cosigners

In situations where a borrowers’ income is not sufficient to meet the bank’s standards, a cosigner may be used. The cosigner must provide the same documentation as the borrower (Items 1-4). The mortgage application itself need not be completed by the cosigner

_______________________________
PLEASE ATTACH YOUR SUPPLEMENTARY DOCUMENTATION.
Drop files here or

Max. file size: 256 MB.
ADDITIONAL INFORMATION

Mortgage Repayments

To qualify for approval you (or a cosigner) will need to show verifiable income of at least 2.5 times your expected monthly mortgage payment

Monthly Repayments per 100,000 NIS

Rate 15 Years 20 Years 25 Years 30 Years

4% 740 610 530 480

5% 790 660 580 540

6% 850 720 650 600

7% 900 780 710 670

Costs of the Mortgage Process
1. Bank Origination Fee: Approximately 0.25% of loan amount
  Morgan Mortgage clients receive a discount on this fee depending on the arrangement with the relevant lending institution.
2. Appraisal fee:
  An appraisal of the property is required in most cases. Cost varies between 450 NIS - 2,000 NIS depending on the bank’s requirements and the cost of property.
3. Life Insurance on the loan:
  This insurance is mandatory in most cases and is required for all people signing on them mortgage. This insurance covers the loan amount in the case of death of any of the borrowers. The cost of the insurance depends on the health and age of the applicant. The cost is approximately: 20 NIS - 80 NIS per 100,000 NIS borrowed, per month.
4. Property Insurance
  (Mandatory): Covers fire, flood, earthquake and other natural disasters. The cost is approximately 10 NIS per 100,000 NIS of property value.

Rate	15 Years	20 Years	25 Years	30 Years
4%	740	610	530	480
5%	790	660	580	540
6%	850	720	650	600
7%	900	780	710	670

Personal Information

Employment Information

Mortgage and Property Information

SUPPLEMENTAL DOCUMENTATION

1) Proof of Identification

2) Bank Accounts

3) Proof of Income

4) Credit Report and Credit Score. (US, UK and Canadian Income Earners)

5) Cosigners

ADDITIONAL INFORMATION

Mortgage Repayments

Monthly Repayments per 100,000 NIS

Costs of the Mortgage Process

Bank Origination Fee: Approximately 0.25% of loan amount

Appraisal fee:

Life Insurance on the loan:

Property Insurance