Real estate transactions are expensive. Outside of the cost of the property, you have to pay taxes, legal fees, agent fees, bank fees, movers, cleaning and polishing and most of us like a new kitchen and at least some furniture. Be prepared to pay a total of around 10% more than the cost of your home. This is a lot of money. And unfortunately we can’t take it into account in your mortgage. When you are approved for a mortgage it is a factor of the appraised value of the property or the purchase price, the lower of the two. If you are buying a house for 2.5M NIS, with a 1.65M mortgage, you should have enough money to cover not only the remaining 850K,...
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