GUIDANCE & CONSULTATIONS FOR PRIVATE BUYERS

Our experienced mortgage advisers will guide you through all stages of financing the largest business deal of your life –from choosing the right property, developing the wisest, safest, cheapest and most stable mortgage plan for you, extracting the best price quotes from the different banks to achieve the lowest interest rate available – we are always available for our clients with personal guidance on a variety of financial issues throughout the life of the mortgage loan and beyond.

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MORTGAGE COUNSELING

MORTGAGE COUNSELING AND GUIDANCE FOR PRIVATE INDIVIDUALS

We’d all like to own property, providing us with a sense of physical and financial security. For most of us, buying a home is the biggest financial transaction we have ever made. There are typically many concerns that come along with the decision to acquire property. Will we succeed in paying for this expensive purchase? Will we manage to pay back the mortgage payments every month? Is this even the right step to take?

Our motto is: We fight for each of our clients’ mortgages as though it were our own.

No doubt, taking out a loan is a decision with far-reaching financial implications. A good decision regarding the structure of the mortgage plan will affect your monthly commitment to the bank for many years to come. In fact, a wise mortgage plan will be the most important savings plan for your future!

At Tobolsky we are committed to personally assisting each of our clients, placing our main emphasis on the client’s best interests – even at the cost of losing a deal.

Since this is, in reality, a “shelf product,” just like in any other store, mortgage has a price. The price incorporates the bank’s profit, and the bank will therefore try to maximize it. The mortgage world is notorious for its complexity even within the world of finance, and this complexity provides an opening to much financial creativity. The bank will try to take advantage of this to increase its profit in a way that will not be evident to the client. A mortgage consultant, on the other hand, will utilize this exact same option for creativity to adjust the mortgage plan to the client’s needs and ability, and to attain the lowest possible interest rate.

The mortgage advisor must be someone who had previously served as a banker and who is familiar with the system and with the banking mindset.

At Tobolsky we are committed to personally assisting each of our clients, placing our main emphasis on the client’s best interests – even at the cost of losing a deal. The guidance we provide to our clients is carried out in full cooperation and coordination with each client in a manner tailored to his personal needs and current conditions, with close attention to personal status and possible future scenarios as factors to consider when obtaining a mortgage.

All mortgage advisors at Tobolsky are former mortgage bankers who decided to “cross over” to the clients’ side. Our advisors’ deep knowledge of the banking system and our extensive connections with the banks serve to the benefit of our clients by enabling us to utilize the various options offered in the mortgage market to create a personal, stable, and cost-effective arrangement.

Our services include full, personal guidance from the first stages of planning and deciding to purchase a property to the preparation of the documents and forms, signature, receiving the loan and throughout the entire duration of the mortgage plan.

Our motto is: We fight for each of our clients’ mortgages as though it were our own.

MORTGAGE REFINANCING

When Should I Refinance?

If it is possible for you to obtain a lower interest rate than the original mortgage plan and/or a better and more appropriate plan can be created.

If your income level rose and as a result, a higher monthly sum can be repaid, shortening the duration of the loan.

If your income level relative to your expenses has dropped, and the monthly payment sum must be reduced accordingly;

If market conditions caused a significant increase in the monthly mortgage payments;

If you were the recipient of a one-time, significant sum of money, such as an inheritance.

How Do I Go About Refinancing?

Refinancing is, in essence, repaying the full loan by taking out a new loan. We will check for you whether the change is worthwhile based on your current mortgage terms and the existing mortgage market conditions.

Sometimes, our recommendation may be that it is indeed advisable for you to refinance, while at other times it may seem that improving your terms does not justify refinancing and our recommendation to you will be not to take this step.

If you decide, following our recommendation, to refinance, we will negotiate on your behalf with the original lending bank as well as competing banks, so as to attain the best terms for you. Upon the conclusion of the negotiations, you will sign the new loan with the bank, and the new plan can take effect immediately, since the property is already mortgaged and there is no need for remortgaging.

Call now to find out whether refinancing is a worthwhile option for you: 072-2798830

Q&A

Following are the most common questions we receive from our clients. Some relate to mortgages, while others request clarification as to the services we provide. In addition to the responses below, you can find important information in the “Articles” page, as well as in the various clips and information throughout the site. Potential clients or people interested in our services are welcome to send in additional questions through the contact form, or directly to our email address, and we will respond and perhaps publish them for the benefit of our other viewers.

How much personal capital do I need in order to purchase an apartment?

The banks offer the best mortgage terms to clients who pay a deposit of least 40%. Nevertheless, banks do approve loans with higher LTV ratios that are tailored to each borrower based on his particular situation, down to a minimum deposit of only 25%. When mortgaging an additional property, one can even receive full financing, requiring no deposit at all or only a 5-10% deposit.

We met with the banker, and he seemed pleasant and reliable. Why shouldn’t we handle the mortgage process on our own and spare the consultation costs?

As explained in our “Mortgage Costs” article, the banker may indeed be pleasant and professional. However, you must remember that he does have profitability goals and that inevitably, your own interests of saving money conflict with the interests of the bank, which the banker is representing – and that is to maximize profitability. A mortgage consultant, on the other hand, is a person who has professional expertise similar to the banker’s, but who is acting solely to promote your goals – saving on the mortgage costs and adapting it to your personal needs.

How much can we save already on the mortgage? After all, it isn’t a loan with interest rates such as a regular commercial bank loan!

Indeed, the interest rates on mortgage loans are lower than those of other types of loans provided by the banks. However, due to the high loan amount and the extent of time over which the loan is to be repaid, choosing the wrong plan and failing to haggle over the interest rates will lead to unneeded expenses that are, on average, tens of thousands of shekels higher!

Can you explain to me in short how this saves tens of thousands of shekels? Will I not receive the same results as you by obtaining a number of offers from different banks?

This is an excellent question. Indeed, the more effort you invest into comparing between the banks, the more money you will end up saving on your interest rates. However, as we wrote in the “Mortgage Costs” article, the mortgage bankers are smart, pleasant, and convincing. But more importantly – they are not on your side. They need, based on the goals set to them, to sell the plans that are most profitable for the bank. They may lead you to consider directions that you had not considered before (and, coming from them, will sound relevant even while they may not, in fact, really be), and these will serve as your anchor points when comparing interest rates. And so, while the diligent consumer is (rightfully!) happy that he had succeeded in lowering the interest rates from the first offer provided by the bank, he does not have the tools to know what margins the bank really had for each plan, and whether these were the best plans and most appropriate structure for his needs.

Furthermore, even the best interest rate obtained through such “market-making” will generally still be higher than those a consultant will receive, due to his insider’s knowledge of the bank’s reduction capabilities and his client mass. This difference is worth tens of thousands in small loans, and hundreds of thousands in larger loans.