Mortgage Benefits in Israel

A special mortgage for Olim is available under the following conditions:

1. Granted up to 15 years after your Aliyah.

2. Provided as a loan with fixed rates (up to 3%). Oleh rates should be carefully compared with the current non-Oleh interest rates prior to purchasing a home, as depending on market trends the non-Oleh track may offer lower interest rates.

3. Paid back in monthly payments, for a period of anywhere between 10-30 years in 5 year increments.

Because the amount of the Subsidy is rather small (80,000-200,000 NIS), you may need additional sources of funding. It is wise to shop around for the best rates.

Certain cities entitle Olim to an additional sum as a gift of up to 40,000 or 60,000 NIS. (Peripheral areas based on Misrad Hashikun’s criteria, ask your Mortgage Banker for a list of eligible cities)
This sum can be used for your down payment.

Who is eligible for a government housing mortgage?

1. Olim Chadashim (New Immigrants)

2. Ktinim Chozrim (Returning Minors)

3. Ezrachim Olim (Israeli Citizens born abroad)

Mortgage assistance is granted only if you meet the following criteria:

1. The individual must be “without housing,” which means that neither member of a couple owns an apartment, or part of an apartment in Israel, and didn’t previously own in the last 10 years.

2. Only available to Olim Chadashim who hold a Teudat Zakaut issued by a mortgage bank. (A Teudat Zakaut is an official document issued by Israel’s Ministry of Housing and Klita).

3. Those purchasing property in Israel before making Aliyah must make Aliyah within one year and still owe payments to the buyer equivalent to the mortgage received as an Oleh.

Mortgage received is based on a point system and will be determined with consideration of the following criteria:

1. Age/family status/family size/siblings – single over 35, married, children

2. Numbers of years living in Israel

3. Length of service in the Israeli IDF/Sherut Leumi

Please check the Misrad HaBinui v’Hashikun (Ministry of Housing) website for detailed eligibility charts and more information:

Last Updated: May 26, 2019!

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