סילבר משכנתאות - Blog

?Who desn't want 331,297 Nis

Thu, 01 Feb 2024 15:16:00 +0000

One of the fundamental strategies for someone who truly wants to save is to shorten the loan period as much as possible, especially in cases where there are penalties for early termination. Often, people convince themselves to lower the monthly repayment to alleviate the economic burden, but this usually leads to extending the loan period. There may also be cases where banks try to tempt you with a lower interest rate loan, but for a longer period. However, there's no such thing as a free lunch, and sometimes it may even end up costing you more. How much more? Let's simulate a 1, 000, 000 NIS mortgage. In one offer, they asked for a 20-year term, while in another offer, they asked for a 30-year term. When shortening the period , you can get a slightly better interest rate. However, for comparison purposes, I set the interest rates at the same number that can be obtained for 30 years, so the savings are actually even greater. In the simulation you are about to see, the client will save over 330, 000 NIS, which is a significant amount of money that you would otherwise leave at the bank.

So, while it is important to avoid taking on repayments that you cannot afford, it is worth making a little effort to earn hundreds of thousands of shekels. Even an additional hundred or two hundred shekels in repayment payments can translate into tens of thousands of shekels in interest savings.

Therefore, I encourage you to keep your money with you and not further enrich the banks!

?Don't wan't to lose your dream home

Tue, 30 Jan 2024 15:54:00 +0000

?Buying a Home - What is the Right Order

Many think that the best way is to first go to a real estate agent, after finding the right property, sign the contract with a lawyer, and only then turn to the bank or mortgage advisor. However, I recommend doing it differently.

The first step should be a meeting with a professional mortgage advisor. The advisor can estimate your ability in terms of the mortgage amount you can receive, so you will know in advance the price range you can pay for an apartment.

It is important to do this before you start looking for apartments, because often people are sure they can finance a certain purchase, and only later discover that the bank did not approve the requested loan amount. This way they may find themselves in distress and unable to finance, even after they have already signed a contract and committed to buying the apartment.

In addition, an experienced advisor can sometimes find creative solutions in complex financing. .cases

Therefore, it is advisable to consult with a mortgage advisor before starting the search, in order to get a clear picture of your financial capabilities. This will allow you to search for and purchase the most suitable apartment for you, without risking financing inability at a later stage.

Mon, 15 Jan 2024 09:12:00 +0000

People often rush to find their dream home and sign a contract without considering their financial reality. This can lead to financial hardship or even worse consequences. I have heard numerous stories of individuals who were forced to sell their homes due to poor financial planning. The correct approach before buying a house is to take the time to sit down and plan. Create a table outlining all your monthly repayments and carefully assess what amount you can afford. Additionally, account for anticipated expenses such as education, car, and children's weddings. It is also beneficial to simulate different scenarios to ensure you are prepared for any unexpected circumstances.

In addition, people often overlook the need for extra funds to cover additional costs associated with purchasing and moving into a home. These costs include transfer fees, gas company fees, brokerage fees, attorney fees, appraiser fees, mortgage advisor fees, file opening fees, and other expenses that can accumulate. It is important to set aside money from your own equity to cover these expenses. Of course, there are also unforeseen surprises in life that we cannot anticipate in advance. That is why we are here to assist you.

Please schedule an appointment so that we can review your mortgage and loan files once again. It is possible that consolidating all loans or restructuring the mortgage may be necessary. You need to regain financial stability, and with proper planning, you can gradually improve your mortgage situation.